Netflix has set a big $25 billion stock buyback program as the streaming giant seeks to combat, or take advantage of, a lagging share price and Wall Street concerns around disappointing financial guidance.
The company unveiled the stock buyback program Thursday morning. The new program will be in addition to its 2024 buyback program, which still has $6.8 billion available. The company had paused its stock repurchasing during its pursuit of Warner Bros., but told Wall Street earlier this month that it intended to resume the program.
But earnings appear to have been a driving force in the new, and significantly higher, stock buyback program. The company’s share price lagged after its last earnings report as investors expressed concerns about the company’s guidance, even after it hiked prices last month, and the stock never fully recovered from its pursuit of Warner Bros.
Netflix received a $2.8 billion
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