Netflix Stock Gets $25 Billion Buyback Boost After Warner Bros Deal Collapse
Netflix approved an additional $25 billion in share buybacks, on top of $6.8 billion remaining from a previous program, after collecting a $2.8 billion termination fee from a failed Warner Bros Discovery deal. Shares traded near $93 in New York. First-quarter revenue rose 16% to $12.25 billion, with free cash flow up to $5.1 billion. The new buyback authorization has no expiration date.