Netflix unveils additional $25B share buyback after stock slides on weak outlook

Netflix said Thursday it plans to buy back an additional $25 billion in shares after its stock came under pressure following a weak financial outlook.

The company said in a filing with the US Securities and Exchange Commission that its board approved the new repurchase program, which does not have an expiration date.

The new authorization adds to a share buyback plan announced in December 2024, under which $6.8 billion remained available for repurchases.

The announcement comes days after Netflix reported disappointing financial results and said Chairman and co-founder Reed Hastings would step down, sending its shares lower.

Netflix stock has fallen more than 13% since the earnings release on April 16.

The company also withdrew in February from a bid to acquire Warner Bros.’ streaming and studio business. Its shares had come under pressure during the months-long contest with Paramount Skydance as investors raised concerns about the potential debt burden under a possible deal.