Netflix plans to buy back additional $25bn in shares

Netflix announced plans to buy back $25 billion in stock after the company’s shares dropped following a weak financial outlook.

The board recommended the program, which is in addition to a share buyback announced in December 2024 that still had $6.8 billion available for stock purchases, the company said in a regulatory filing on Thursday. The buyback doesn’t have an expiration date.

The announcement comes days after Netflix reported disappointing financial results and said chairman and co-founder Reed Hastings is stepping down, sinking shares. The stock is down more than 13% since the results on April 16.

Netflix had also walked away from a contentious battle for control of Warner Bros.’ streaming and studio business in February. The company’s shares had suffered during the months-long tussle with Paramount Skydance Corp as investors were concerned about the amount of debt Netflix would shoulder under a potential deal.

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