Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
Netflix Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Revenues
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Netflix Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Netflix Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data exhibits distinct patterns and trends across several key metrics over multiple quarters.
- Revenues
- Revenues demonstrate a consistent upward trajectory over the entire period. Starting at approximately $5.8 billion in the first quarter of 2020, revenues steadily increase each quarter, reaching over $11.5 billion by the fourth quarter of 2025. This indicates ongoing growth in sales and market demand.
- Cost of Revenues
- The cost of revenues fluctuates but generally trends upward in line with the growth in revenues. However, the magnitude of this cost shows some volatility, with notable spikes in specific quarters such as Q4 2020 and Q4 2022, which may reflect increased content acquisition or production costs. Despite these fluctuations, costs remain a significant portion of revenues.
- Gross Profit
- Gross profit mirrors the trends of revenues and costs, with initial growth up to Q2 2021 followed by a decline in late 2021 and parts of 2022. However, from early 2023 onwards, gross profit increases sharply, peaking in Q1 2025 before a slight decline in subsequent quarters. This pattern reflects both revenue growth and cost control efforts impacting profitability at the gross level.
- Operating Expenses
- Operating expenses subdivided into sales and marketing, technology and development, and general and administrative expenses, show diverse behaviors:
- Sales and Marketing
- Expenses in sales and marketing fluctuate but tend to increase over time, with occasional large spikes in Q4 periods suggesting seasonal campaigns or increased promotional activities.
- Technology and Development
- These costs increase gradually, signaling ongoing investment in platform and service improvements.
- General and Administrative
- G&A expenses remain relatively stable with moderate increases, likely reflecting scaling operational management costs.
- Operating Income
- Operating income exhibits significant volatility. Initially rising until mid-2021, it drops sharply in Q4 2021 and Q4 2022, with partial recoveries afterward. The peaks in operating income correspond with periods of higher gross profit and controlled operating expenses, while declines coincide with elevated costs.
- Interest Expense and Other Income/Expense
- Interest expense remains relatively stable with a slight decreasing trend, indicating consistent debt levels or refinancing at favorable terms. Other income and expense lines are volatile, showing substantial swings that impact pre-tax income unpredictably.
- Income Before Taxes and Net Income
- Income before income taxes generally follows operating income trends, with notable decreases aligning with operating income downturns. Net income results reflect this behavior but also demonstrate strong recovery and growth phases, particularly in 2023 and 2024. The provision for income taxes varies widely, sometimes being a negative figure, which influences net income differently across periods.
Overall, the company exhibits solid revenue growth supported by expanding gross profits. Operating expenses increase but at a rate that allows profitability to be maintained, albeit with quarter-to-quarter fluctuations. Volatility in operating income and net income are influenced by varying costs, investment in development, and unusual items in other income/expense.