Netflix Sees 17.6 Percent Rise in Q4 Revenues

In the fourth quarter of 2025, Netflix saw revenues rise 17.6 percent year-over-year to $12.05 billion.

Operating income for the company was $3 billion, a 24.5 percent year-over-year increase. Its net income—which included about $60 million of costs related to the recent Warner Bros.-related bridge loan and associated bridge reduction financings—was $2.4 billion.

With these Q4 results, the company met or exceeded all of its full-year 2025 financial objectives. Across 2025, Netflix delivered $45.2 billion of revenues, with a 29.5 percent operating margin.

Engagement on the platform remained healthy, with view hours increasing 2 percent year-over-year in the second half of 2025, driven by a 9 percent rise in viewing of branded originals. This includes the final season of Stranger Things, the second season of Nobody Wants This, season five of Emily in Paris, Guillermo del Toro’s Frankenstein, Wake Up Dead Man: A Knives Out Mystery and many more. Overall engagement growth in the second half was partially offset by a year-over-year decline in viewing of non-branded viewing hours.

The platform has reached over 325 million paid memberships and is now serving an audience approaching 1 billion people globally.

In 2026, Netflix states it is focused on improving its core business with an increasing variety and quality of series and films, enhancing product experience and further growing its ads business; building out newer initiatives like live entertainment; working to close its acquisition of Warner Bros.; and sustaining healthy growth.

The company forecasts 2026 revenues of $50.7 billion to $51.7 billion, with ad revenue expected to roughly double, and an operating margin of 31.5 percent.