# Anthropic’s Q2 Print Tops $11.5B — First Adjusted Profit at Frontier Scale

Times of AI Desk · 2026-08-14 · Frontier Labs

[https://timesof.ai/2026/08/anthropic-q2-2026-revenue](https://timesof.ai/2026/08/anthropic-q2-2026-revenue)

> Bloomberg reported documents showing Anthropic’s preliminary second-quarter revenue exceeded $11.5 billion — more than 14× the $787 million in Q2 2025 and up from $4.73 billion in Q1 2026 — with positive adjusted operating income. Figures are preliminary; Anthropic declined to comment.

If the prelims hold, Anthropic just showed **the first profitable quarter at frontier-lab scale** while still privately held — and did it on a print **above** the $10.9 billion it had guided in May. That is the IPO tape: enterprise/coding mix vs OpenAI’s consumer-plus-API story.

**Bloomberg** reported that **Anthropic** is showing prospective IPO investors documents with **preliminary Q2 2026 revenue of more than $11.5 billion**, versus **$787 million** in Q2 2025 (**≥14×**) and **$4.73 billion** in **Q1 2026**. The same documents show **positive adjusted operating income** for the quarter. **Deliberations are ongoing and the figures could be revised.** An Anthropic representative **declined to comment**. This is an **investor-document leak**, not an audited earnings release.

## The numbers as reported

| Metric | Figure (Bloomberg documents, Aug 14) |
|--------|--------------------------------------|
| **Q2 2026 revenue (prelim.)** | **>$11.5 billion** |
| **Q2 2025** | **$787 million** |
| **Q1 2026** | **$4.73 billion** |
| **Q2 2026 profit** | **Positive adjusted operating income** (dollar amount **not** given in the Bloomberg takeaway) |
| **May run rate** | Annualized revenue **crossed $47 billion** (Anthropic Series H primary) |
| **OpenAI comparison** | Bloomberg separately put OpenAI’s run rate **over $40 billion** (may not be like-for-like) |

**Do not** recycle the **May** WSJ *projection* of **$10.9 billion** revenue and **$559 million** operating profit as if it were the Q2 actual. The August documents **beat** that revenue projection; they do **not** republish the $559 million profit figure. The Information ran a same-day briefing (“Revenue Jumped 14 Times”).

## Limits

- **Adjusted** (not GAAP), **preliminary**, **unaudited**, **no official comment**.
- Gross-vs-net cloud pass-through waits on the S-1.
- Distinct from the Aug 17 **$65B July exit run rate**.

## Sources

- [Bloomberg: Anthropic Revenue Surges to Over $11.5 Billion in Second Quarter (August 14, 2026)](https://www.bloomberg.com/news/articles/2026-08-14/anthropic-revenue-ahead-of-ipo-surges-over-14-fold-in-second-quarter)
- [The Information: Anthropic Revenue Jumped 14 Times in Second Quarter (August 14, 2026)](https://www.theinformation.com/briefings/anthropic-revenue-jumped-14-times-second-quarter)
- [Anthropic: Series H / $47B run rate (May 2026)](https://www.anthropic.com/news/series-h)