Netflix sees 2025 free cash flow of about $9B

Netflix (NFLX) said: “Net cash generated from operating activities in Q3 was $2.8B vs. $2.3B in the prior year period. Free cash flow in Q3’25 totaled $2.7B vs. $2.2B in Q3’24. We now expect 2025 free cash flow of approximately $9B (+/- a few hundred million dollars), up from our prior forecast of $8B-$8.5B. This new forecast reflects the timing of cash payments and lower content spend. During the quarter we repurchased 1.5M shares for $1.9B, leaving $10.1B remaining under our existing share repurchase authorization. We ended the quarter with gross debt of $14.5B and cash and cash equivalents of $9.3B.”