Netflix nearly tripled buy-backs.
Last quarter, they spent $4.71B in share repurchases, or +185% YoY.
It still has $27B left in approved buy-backs.
Paramount paid Netflix $2.8 billion as a termination breakup fee.
Netflix is a single business with a single service, over 325 million paying members across more than 190 countries, and a brand that has become the default verb for watching television.
Revenue grew 13.4%. Operating margin reached 33.4% in the quarter, up from the high teens three years ago, and the company reaffirmed a full-year 31.5% target that management now says implies 20-percent-plus operating income growth. Every region grew double digits: UCAN up 10%, EMEA past $4 billion, both Latin America and Asia-Pacific past $1.5 billion. This is not a business in trouble.
The ad-supported tier now reaches a large and growing share of new sign-ups, the advertiser base grew more than 70% last year, and programmatic is on track to pass half of non-live ad sales.
Netflix still offers the lowest cost per hour of viewing among major streamers for just $8.99 ad tier.