Filing Flows › Netflix (NFLX) › How it makes money
How Netflix (NFLX) makes money
Netflix (NFLX) made $12.9B of revenue in the third quarter 2026 (Q3 2026), +12% from a year earlier. Of every dollar of revenue, 35¢ was left as operating profit, 28¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $12.9B | 100.0% |
| Operating profit | $4.5B | 34.6% |
| Income tax | $653M | 5.1% |
| Net earnings | $3.7B | 28.5% |
| Operating cash flow | $3.2B | 24.6% |
| Free cash flow | $2.9B | 22.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $12.9B | +12% |
| Q2 2026 | $12.6B | +13% |
| Q1 2026 | $12.2B | +16% |
| Q4 2025 | $12.1B | +18% |
| Q3 2025 | $11.5B | +17% |
| Q2 2025 | $11.1B | +16% |
| Q1 2025 | $10.5B | +12% |
From Netflix's 10-Q filed Oct 21, 2026 (on EDGAR).
Questions
How does Netflix make money?
Netflix (NFLX) made $12.9B of revenue in the third quarter 2026 (Q3 2026), +12% from a year earlier. Of every dollar of revenue, 35¢ was left as operating profit, 28¢ was left as net earnings.
What is Netflix's profit margin?
Net earnings were $3.7B, 28.5% of revenue, in the third quarter 2026; the operating margin was 34.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.