Netflix to buy back $150 million in stock

By Marcy Magiera -- Video Business, 3/7/2008

MARCH 7 | Netflix's board of directors approved a program to buy back up to $150 million worth of additional stock this year.

The plan adds to a separate $100 million repurchase program announced in January. The company has completed that buy back, repurchasing about 3.8 million of its shares at an average price of $25.96 per share, net of expenses.

Netflix shares jumped 78¢, or 2.6%, to $31.40 in after-hours trading.

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