Netflix reports $12.87 billion in Q3 revenue and expands share buybacks
NFLX Netflix Inc
$65.85 -1.79%
View chart & analysis → - 1Netflix recorded Q3 revenue of $12.87 billion, an 11.9% increase year-over-year.
- 2Netflix net income surged 43.9% in Q3 and the company repurchased 63.9 million shares for $4.8 billion.
- 3Netflix's large-scale share buybacks operate more as a systematic program than a value-oriented strategy.
So what's the key point?
Netflix saw its revenue grow by 11.9% compared to last year in the third quarter. Profits also increased significantly, and the company bought back a large amount of its own shares.
Source The Motley Fool +1 · View original ↗
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