Netflix Authorizes $25 Billion Share Repurchase to Boost Stock Price
Variety • • business
Key Points:
- Netflix's board has authorized an additional $25 billion stock buyback program with no expiration date, aiming to return cash to shareholders and boost share prices after abandoning its Warner Bros. acquisition.
- The buyback program supplements the December 2024 authorization, under which Netflix had $6.8 billion available for repurchase and bought back 13.5 million shares for $1.3 billion in Q1 2026.
- Netflix ended Q1 2026 with $14.4 billion in gross debt and $12.3 billion in cash, bolstered by a $2.8 billion breakup fee from Paramount after the Warner Bros. deal fell through.
- The company plans to prioritize reinvestment in content and selective M&A while maintaining liquidity, using excess cash for share repurchases through various methods deemed appropriate by management.
- Netflix's stock price surged after canceling the Warner Bros. deal but has recently declined over 10% following weaker-than-expected Q2 guidance, closing at $93.24/share on April 22, 2026.
