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Tara Lachapelle

Netflix Gets to Say 'I Told You So,' for Now

The streaming-video service is retiring its cash-burning torch, but not its crown.

Netflix built up a treasure trove of new content including the hit “Bridgerton.” It’s going to need to keep spending.

Netflix built up a treasure trove of new content including the hit “Bridgerton.” It’s going to need to keep spending.

Photographer: Liam Daniel/Netflix

Netflix Inc. would like to thank you for attending its cash bonfires over the years but says it’s time to go home now — and watch more Netflix.

The streaming-video company stunned investors Tuesday by announcing that it’s “very close” to becoming a true cash-flow-generating company and that it no longer needs to borrow to finance its day-to-day operations. Translation: The money-torching stage of Netflix’s evolution is coming to an end as it gets closer to becoming legitimately profitable.