Netflix increases FY25 free cash flow forecast to $8B-$8.5B

Netflix (NFLX) said: “Net cash generated from operating activities in Q2 was $2.4B vs. $1.3B in the prior year period. Free cash flow in Q2’25 totaled $2.3B vs. $1.2B in Q2’24. We are increasing our full year 2025 free cash flow forecast to $8B-$8.5B from approximately $8B due to the increase in our revenue and operating margin forecast. During the quarter, we paid down $1.0B of USD and EUR senior notes using proceeds from our 2024 refinancing, and we repurchased 1.5M shares for $1.6B. We have $12.0B remaining under our existing share repurchase authorization. We ended the quarter with gross debt of $14.5B and cash and cash equivalents of $8.2B. In May 2025, we established a commercial paper program, providing us with enhanced flexibility and the ability to issue short-term, unsecured notes in an aggregate amount of up to $3B.”