Netflix (NFLX) raises buyback plan by $10 billion

With earnings, Netflix (NASDAQ: NFLX) announced it raised its buyback authorization by $10 billion.

From the company: "Consistent with our policy to return excess cash above our minimum cash requirement , we repurchased 7 $2.5B of our stock (or 6M shares) under our original $5B authorization. Since the inception of this authorization, we’ve bought back $4.1B. In September, our board increased our share repurchase authorization for an additional $10B on top of the $1B remaining under the prior authorization."

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