Overview
- Shareholders of record on Nov. 10 will receive nine additional shares per share on Nov. 14, with split-adjusted trading starting Nov. 17.
- Netflix says the split is intended to reset the per-share price to a range more accessible for employees in its stock option program and for retail investors.
- The stock rose about 2% to 3% in after-hours trading following the announcement, after closing near $1,089 and remaining up roughly 40%+ this year.
- The move follows a sharp sell-off after Q3 results, where revenue grew about 17% year over year but EPS missed forecasts due to a $619 million noncash Brazilian tax charge.
- CFO Spencer Neumann called the Brazil tax item highly unique and not expected to be material going forward, as analysts remain split with valuation near 45 times 2025 consensus earnings.