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Netflix NFLX Q2 2025 earnings

Reported July 17, 2025 · After market close

Revenue$11.1BBeat by $21.8M
EPS$0.72Beat by $0.01
Revenue estimate$11.1B
EPS estimate$0.71

Next report

Oct 20, 2026 (In 2 weeks)
Revenue estimate$12.9B
EPS estimate$0.82

Financials

Q2 2025

Income statement

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Revenue$11.1B+15.9%
Gross profit$5.8B+31.2%
Operating income$3.8B+45.0%
Net income$3.1B+45.6%
EPS (diluted)$7.19+47.3%

Balance sheet

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Cash & equivalents$8.2B+23.4%
Total debt$16.9B+2.5%
Total equity$25.0B+12.8%
Total assets$53.1B+8.1%

Cash flow

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Operating cash flow$2.4B+87.7%
CapEx$155.9M+99.1%
Free cash flow$2.3B+87.0%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$544.35B+87.6%
Enterprise value$553.11B+84.3%
P/E53.1×+12.2×
P/S13.1×+5.1×

Profitability

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Gross margin48.5%+4.7pp
Operating margin29.5%+5.7pp
Net margin24.6%+5.0pp
FCF margin20.4%+1.6pp

Returns & leverage

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Return on equity43.5%+12.0pp
Debt / equity0.7×-0.1×
Current ratio1.3×+0.4×

Segments

By segment

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Reportable Segment$11.1B+15.9%

By product

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Streaming$11.1B+15.9%

FAQ

When did Netflix report Q2 2025 earnings?
Netflix (NFLX) reported Q2 2025 earnings on July 17, 2025 after market close.
What were Netflix's Q2 2025 revenue and EPS?
Netflix reported revenue of $11.1B and eps of $0.72 for Q2 2025.
Did Netflix beat estimates in Q2 2025?
Revenue beat the consensus estimate of $11.1B by $21.8M. EPS beat the consensus estimate of $0.71 by $0.01.
How did Netflix's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.9% from $9.6B a year earlier and eps grew 46.9% from $0.49.
Where can I find Netflix's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001065280-25-000322) and the 10-Q periodic report (0001065280-25-000323) directly on SEC EDGAR. The filing index links above go to sec.gov.