Netflix bought back $4.7B of stock in Q2 2026, its largest quarter of repurchases

Netflix repurchased $4.71 billion of its shares in the second quarter of 2026, the largest quarterly buyback in its history. The company reported this alongside its Q2 results, and it is a large share of the free cash flow it expects for the year. For a trader, the buyback is a support for the share count but does not offset slower revenue growth.

• Q2 2026 share repurchases $4.71B
• Largest quarter of buybacks to date for Netflix
• FY2026 free cash flow guided to about $12.5B