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Netflix’s board of directors has approved a 10-for-1 stock split, set to take effect in mid-November 2023. This follows a strong performance from the company, which has seen its stock price increase over 103,000% since its IPO.
In the last quarter, Netflix reported a 17% revenue increase year-over-year in North America, while its advertising segment is poised to double sales this year. Despite challenges, including a back tax payment to Brazilian authorities that affected earnings, management remains optimistic about future growth, backed by enhanced free cash flow to support debt retirement and share buybacks.
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