Netflix Resumes and Expands Stock Buybacks as Revenue and Profits Surge
Since its initial public offering in 2002, Netflix has periodically repurchased shares to return value to shareholders. The company first initiated a buyback program in 2008 with $200 million worth of stock purchases and continued through 2011 as revenue and profits grew significantly. From 2012 to 2020, the focus shifted toward content development rather than share repurchases. In recent years, Netflix has resumed aggressive buybacks, authorizing up to $5 billion in 2021 and increasing that amount by an additional $10 billion in 2023. Between 2023 and 2025 alone, the company spent over $21 billion on stock repurchases. In 2025, Netflix reported record revenue of nearly $45 billion and profit close to $11 billion, funding buybacks primarily through strong operating cash flow. The company typically buys back shares when it views them as undervalued relative to its financial performance. Netflix’s recent stock price has fluctuated significantly despite these efforts; after hitting a record high in June 2025 at around $134 per share, the stock declined by nearly 45% through late July 2026. The company's buybacks have been executed at lower prices than its peak valuation.
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Topics: financial strategy Netflix share repurchases stock buybacks