Netflix (NFLX) Operating Expenses (2009 - 2026)
Netflix (NFLX) posted quarterly Operating Expenses of $1.3 billion for Q2 2026, up 4.49% year-over-year from $1.3 billion in Q2 2025, and down 8.45% quarter-over-quarter from $1.4 billion in Q1 2026.
Netflix (NFLX) Operating Expenses (2009 - 2026) Analysis & Trends
Netflix's Operating Expenses history runs 18 years deep, the most recent figure standing at $1.3 billion for Q2 2026.
- In Q2 2026, Operating Expenses rose 4.49% year-over-year to $1.3 billion; the TTM figure through Jun 2026 stood at $5.9 billion (up 19.76% YoY), while the FY2025 annual figure was $5.3 billion, up 14.29% from the prior year.
- Operating Expenses for Q2 2026 stood at $1.3 billion, down from $1.4 billion in the prior quarter.
- The five-year high for Operating Expenses was $1.8 billion in Q4 2025, with the low at $1.0 billion in Q3 2022.
- The 5-year median for Operating Expenses is $1.1 billion (2023), against an average of $1.2 billion.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses retreated 5.92% in 2023, then jumped 44.9% in 2025.
- Netflix's Operating Expenses stood at $1.1 billion in 2022, then advanced by 2.66% to $1.1 billion in 2023, then climbed by 11.66% to $1.2 billion in 2024, then soared by 44.9% to $1.8 billion in 2025, then fell by 25.33% to $1.3 billion in 2026.
- Business Quant data shows NFLX's Operating Expenses at $1.3 billion in Q2 2026, $1.4 billion in Q1 2026, and $1.8 billion in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 1.32 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 20.49 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 8.48 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 1.24 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | 2.38 Bn |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 846.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 527.52 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | 991.00 Mn |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 1.12 Bn |
| 10 | Paramount Skydance | 11.45 Bn | 8.18 Bn | -2.08 Bn | -4.64 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.32 Bn |
| Mar 31, 2026 | 1.44 Bn |
| Dec 31, 2025 | 1.77 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.27 Bn |
| Mar 31, 2025 | 1.24 Bn |
| Dec 31, 2024 | 1.22 Bn |
| Sep 30, 2024 | 1.15 Bn |
| Jun 30, 2024 | 1.14 Bn |
| Mar 31, 2024 | 1.11 Bn |
| Dec 31, 2023 | 1.09 Bn |
| Sep 30, 2023 | 1.14 Bn |
| Jun 30, 2023 | 1.06 Bn |
| Mar 31, 2023 | 1.09 Bn |
| Dec 31, 2022 | 1.07 Bn |
| Sep 30, 2022 | 1.04 Bn |
| Jun 30, 2022 | 1.13 Bn |
| Mar 31, 2022 | 1.06 Bn |
| Dec 31, 2021 | 1.05 Bn |
| Sep 30, 2021 | 885.68 Mn |