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Netflix Announces USD25B Share Buyback Following Stock Decline
(MENAFN) Netflix has revealed plans to repurchase an additional $25 billion worth of its shares after its stock dropped in response to a weaker-than-expected financial outlook, according to reports.
In a filing with US regulators, the company said its board approved the new buyback program, which has no set expiration date. This latest authorization comes on top of a previously announced plan from December 2024, which still had $6.8 billion remaining for share repurchases.
The move follows a recent earnings report that fell short of expectations, contributing to a decline in the company’s share price. Since the release of those results on April 16, Netflix stock has dropped by more than 13%.
The announcement also comes shortly after the company disclosed that its chairman and co-founder Reed Hastings would step down, adding to investor concerns.
Earlier this year, Netflix also exited a potential deal involving the acquisition of Warner Bros.’ streaming and studio operations. Its stock had already been under pressure during the prolonged bidding process involving Paramount and Skydance, as investors worried about the financial risks associated with taking on additional debt.
In a filing with US regulators, the company said its board approved the new buyback program, which has no set expiration date. This latest authorization comes on top of a previously announced plan from December 2024, which still had $6.8 billion remaining for share repurchases.
The move follows a recent earnings report that fell short of expectations, contributing to a decline in the company’s share price. Since the release of those results on April 16, Netflix stock has dropped by more than 13%.
The announcement also comes shortly after the company disclosed that its chairman and co-founder Reed Hastings would step down, adding to investor concerns.
Earlier this year, Netflix also exited a potential deal involving the acquisition of Warner Bros.’ streaming and studio operations. Its stock had already been under pressure during the prolonged bidding process involving Paramount and Skydance, as investors worried about the financial risks associated with taking on additional debt.
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