Netflix Greenlights $25 Billion Stock Buyback, Shares Jump

Netflix said its board of directors approved an additional $25 billion share repurchase program on Thursday, April 23 , marking a renewed push to return capital to shareholders.

The authorization comes after the streaming company stepped away from a potential $72 billion acquisition of Warner Bros Discovery assets. The new program adds to a repurchase plan that was approved in December 2024 , with about $6.8 billion still available under that earlier authorization as of the end of March .

Following the announcement, Netflix shares rose 1.5% in premarket trading. The company’s decision to restart large-scale buybacks highlights a change in how it is allocating capital, emphasizing shareholder returns rather than pursuing major mergers.

The buyback decision follows a set of growth moves made in the two months since Netflix abandoned the Warner Bros transaction. Over that period, the company acquired AI film-tech firm InterPositive , raised U.S. subscription prices, and introduced a children’s gaming application.

Analysts said they expect Netflix to focus more heavily on expanding areas tied to future growth, including advertising, live programming, and sports content. The company has also signaled that scaling its ad-supported subscription tier is a key priority, with that tier viewed as important for generating revenue going forward.

The strategic shift arrives after Netflix issued what it described as a conservative forecast for the second quarter . It also follows the company’s announcement that co-founder and Chairman Reed Hastings is set to depart in June .