Netflix stock closed at $78.04 on February 24, 2026, marking a 2.66% increase. The shares rose an additional 1.20% to $78.98 during after-hours trading, tracking a 0.68% gain in the S&P 500.
The Warner Bros. Discovery board determined that a revised $31.00 per share cash bid from Paramount Skydance could constitute a superior proposal. This offer challenges the existing merger agreement with Netflix, and negotiations remained ongoing as of February 24, 2026.
Analysts identified significant integration risks and a debt load comprising $52 billion in new obligations and $10.7 billion in existing liabilities. Despite these pressures, Netflix targets a 31.5% operating margin for its core operations in 2026. The company also projects generating $11 billion in free cash flow during the 2026 fiscal year.