NETFLIX INC

NFLX 10-Q · Q2 2025

NFLX Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 11,079,166 9,559,310 +15.9%
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Streaming · Asia Pacific 1,305,253 1,051,833 +24.1%
Streaming · EMEA 3,538,175 3,007,772 +17.6%
Streaming · Latin America 1,306,735 1,204,145 +8.5%
Streaming · United States and Canada 4,929,003 4,295,560 +14.7%
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Reportable Segment 11,079,166 9,559,310 +15.9%
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US 4.6 4 +15.0%
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Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -37,385 33,301 -212.3%
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Reclassification Out Of Accumulated Other Comprehensive Income -37,385 33,301 -212.3%
Cost of Revenue 5,325,311 5,174,143 +2.9%
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Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -344 -73 -371.2%
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Reclassification Out Of Accumulated Other Comprehensive Income -344 -73 -371.2%
Sales & Marketing 713,265 644,084 +10.7%
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Reportable Segment 713,265 644,084 +10.7%
Research & Development 824,683 711,254 +15.9%
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Reportable Segment 824,683 711,254 +15.9%
General & Administrative 441,213 426,992 +3.3%
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Reportable Segment 441,213 426,992 +3.3%
Operating Income 3,774,694 2,602,837 +45.0%
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Reportable Segment 3,774,694 2,602,837 +45.0%
Interest Expense -182,649 -167,986 -8.7%
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Reportable Segment -182,649 -167,986 -8.7%
Non-Operating Income (Expense) 39,630 79,005 -49.8%
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Reportable Segment 39,630 79,005 -49.8%
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Accumulated Translation Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -14,802
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Reclassification Out Of Accumulated Other Comprehensive Income -14,802
Income Before Taxes 3,631,675 2,513,856 +44.5%
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Reportable Segment 3,631,675 2,513,856 +44.5%
Income Tax Expense (Benefit) -506,262 -366,550 -38.1%
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Reportable Segment -506,262 -366,550 -38.1%
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Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 8,504 -7,652 +211.1%
Accumulated Translation Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income 3,398
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Reclassification Out Of Accumulated Other Comprehensive Income 11,902 -7,652 +255.5%
Net Income 3,125,413 2,147,306 +45.6%
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Reportable Segment 3,125,413 2,147,306 +45.6%
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Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -28,537 25,722 -210.9%
Accumulated Translation Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -11,404
Retained Earnings 3,125,413 2,147,306 +45.6%
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Reclassification Out Of Accumulated Other Comprehensive Income -39,941 25,722 -255.3%
EPS (Basic) 7.35 4.99 +47.3%
EPS (Diluted) 7.19 4.88 +47.3%
Wtd Avg Shares (Basic) 425,211 430,065 -1.1%
Wtd Avg Shares (Diluted) 434,883 439,739 -1.1%
Interest Income (Q)
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Reportable Segment 72 63 +14.3%
Comprehensive Income 2,306,480 2,170,071 +6.3%
Other Comprehensive Income -818,933 22,765 -3697.3%
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Accumulated Gain Loss Net Cash Flow Hedge Parent -1,185,104 127,170 -1031.9%
Accumulated Net Unrealized Investment Gain Loss -907
Accumulated Other Comprehensive Income -818,933 22,765 -3697.3%
Accumulated Translation Adjustment 169,299 -72,626 +333.1%
Aoci Derivative Qualifying As Hedge Excluded Component Parent -3,297
Net Investment Hedge Gains (Losses) -93,400 -3,400 -2647.1%
Tax (Expense) Benefit 294,476 -28,379 +1137.7%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -941,572 123,733 -861.0%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 8,177,405 6,624,939 +23.4%
Short-Term Investments 213,115 30,973 +588.1%
Other Assets Current 3,602,586 2,959,641 +21.7%
Total Current Assets 11,993,106 9,615,553 +24.7%
Non-Current Assets
Content Assets Net Noncurrent 32,089,394 31,927,355 +0.5%
Property, Plant & Equipment 1,743,566 1,510,958 +15.4%
Other Non-Current Assets 7,273,598 6,045,029 +20.3%
Total Assets 53,099,664 49,098,895 +8.1%
Operating Lease Right-of-Use Assets 2,175,343 2,223,261 -2.2%
Intangible Assets 32,089,394
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Licensed content 12,273,051 12,358,540 -0.7%
Produced content 19,816,343 10,033,753 +97.5%
Current Liabilities
Content Liabilities Current 4,091,770 4,391,437 -6.8%
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Current Content Liabilities 4.1 4.4 -6.8%
Accounts Payable 632,718 598,557 +5.7%
Accrued Liabilities 2,489,486 1,876,244 +32.7%
Deferred Revenue (Current) 1,728,361
Total Current Liabilities 8,942,335 10,139,999 -11.8%
Non-Current Liabilities
Content Liabilities Noncurrent 1,606,404 2,028,782 -20.8%
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Non-current Content Liabilities 1.6 2 -20.0%
Long-Term Debt 14,453,206 12,180,024 +18.7%
Other Non-Current Liabilities 3,145,820 2,637,397 +19.3%
Total Liabilities 28,147,765 26,986,202 +4.3%
Operating Lease Liabilities 2,026,821 2,127,120 -4.7%
Stockholders' Equity
Common Stock 6,932,828 5,680,061 +22.1%
Treasury Stock Common Value -18,392,942 -10,547,055 -74.4%
Accumulated Other Comprehensive Income -904,668 -89,114 -915.2%
Retained Earnings 37,316,681 27,068,801 +37.9%
Total Stockholders' Equity 24,951,899 22,112,693 +12.8%
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Accumulated Gain Loss Net Cash Flow Hedge Parent -920,159 211,631 -534.8%
Accumulated Other Comprehensive Income -904,668 -89,114 -915.2%
Accumulated Translation Adjustment -116,258 -249,600 +53.4%
Aoci Derivative Qualifying As Hedge Excluded Component Parent 2,474
Common Stock Including Additional Paid In Capital 6,932,828 5,680,061 +22.1%
Net Investment Hedge Gains (Losses) -105,600 -3,400 -3005.9%
Retained Earnings 37,316,681 27,068,801 +37.9%
Tax (Expense) Benefit 234,875 -47,745 +591.9%
Treasury Stock Common -18,392,942 -10,547,055 -74.4%
Total Liabilities & Equity 53,099,664 49,098,895 +8.1%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Additionsto Streaming Content Assets -7,385,470 -7,777,819 +5.0%
Change In Streaming Content Liabilities -625,305 -556,013 -12.5%
Costof Services Amortizationof Streaming Content Assets 7,655,186 7,440,495 +2.9%
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Reportable Segment 7,655,186 7,440,495 +2.9%
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Licensed content 4,008,732 3,719,608 +7.8%
Produced content 3,646,454 3,720,887 -2.0%
Depreciation & Amortization 160,080 168,461 -5.0%
Stock-Based Compensation 152,839 145,111 +5.3%
Foreign Currency Transaction Gain Loss Before Tax 83,785 -173,493 +148.3%
Other Non-Cash Items 234,869 235,769 -0.4%
Deferred Income Tax Expense Benefit Including Reclassifications -299,683 -316,464 +5.3%
Increase Decrease In Other Current Assets -308,050 9,090 -3488.9%
Change in Accounts Payable -265,380 -164,623 -61.2%
Increase Decrease In Accrued Liabilities 39,178 137,479 -71.5%
Change in Deferred Revenue 207,548 30,751 +574.9%
Increase Decrease In Other Noncurrent Assets And Liabilities Net -452,904 -154,890 -192.4%
Net Cash from Operations 5,212,457 3,503,369 +48.8%
Investing Activities
Capital Expenditures -284,166 -154,001 -84.5%
Payments To Acquire Investments -157,665
Proceeds From Sale Maturity And Collections Of Investments 1,732,367
Other Investing Activities -36,190
Net Cash from Investing 1,254,346 -154,001 +914.5%
Financing Activities
Repayments Of Long Term Debt -1,833,450 -400,000 -358.4%
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3.000%Senior Notes · Senior Notes -470
3.625% Senior Notes · Senior Notes -500
5.875% Senior Notes · Senior Notes -800
Proceeds From Stock Options Exercised 520,668 387,631 +34.3%
Share Repurchases -5,190,723 -3,599,998 -44.2%
Tax Withholding for Share Compensation -33,984 -3,708 -816.5%
Proceeds From Payments For Other Financing Activities 6,305 -6,250 +200.9%
Net Cash from Financing -6,531,184 -3,622,325 -80.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 437,617 -218,513 +300.3%
Net Change in Cash 373,236 -491,470 +175.9%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 8,180,573 6,627,045 +23.4%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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