NFLX is trading at $92.12 (+8.9%) in pre-market after declining to match Paramount Skydance's superior $31-per-share bid for Warner Bros. Discovery (WBD).
- Management cited the deal as no longer financially attractive, avoiding a $2.8B breakup fee to refocus on its core streaming business.
- The company emphasized its strong organic growth and $20B content investment plans while announcing the resumption of share repurchases.
- The pre-market surge significantly outperforms the broader market, with S&P 500 futures trading down 0.22%.