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Netflix (NFLX) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 21, 2026
Netflix (NFLX) reported revenue of $12.9B for the third quarter 2026 (Q3 2026), +12% from a year earlier and +3% from the quarter before. Operating margin was 34.6%, net earnings $3.7B (28.5% of revenue).
Netflix, Q3 2026: revenue $12.9B (+12% year over year), operating margin 34.6%, net earnings $3.7B, operating cash flow $3.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.9B | +3% | +12% |
| Operating profit | $4.5B | +6% | +37% |
| Net earnings | $3.7B | +8% | +44% |
| Operating cash flow | $3.2B | +81% | +12% |
| Free cash flow | $2.9B | — | +8% |
What changed
Revenue was $12.9B in Q3 2026, up 12% year over year and up 3% from the previous quarter.
Operating profit was $4.5B, a 34.6% margin (up 6.4 points year over year). Of the extra revenue versus Q3 2025, 89% reached operating profit, above the 28% margin then. Total costs grew 2% against revenue growth of 12%. The fastest-growing cost line was Research & development (+21%). Net earnings were $3.7B, up 44% year over year. The effective tax rate was 15.1%.
Operating cash flow was $3.2B (up 12% year over year), 86% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items used $0.74B. After purchases of property and equipment ($0.28B), free cash flow as the company reports it was $2.9B.
Questions
What was Netflix's revenue in the third quarter 2026?
Netflix (NFLX) reported revenue of $12.9B for the third quarter 2026 (Q3 2026), +12% from a year earlier and +3% from the quarter before.
Was Netflix profitable in the third quarter 2026?
Operating profit was $4.5B (34.6% of revenue) and net earnings $3.7B.
Source: Netflix 10-Q on SEC EDGAR.