Netflix (NFLX) shareholders on Tuesday approved a massive increase in the number of shares the company is authorized to issue, the first step toward a possible stock split. Chief Executive Reed Hastings said at the company’s annual meeting that management will seek approval from the board of directors “in due course” to pursue a stock split, Netflix spokeswoman Anne Marie Squeo said. The video-streaming service won approval to raise its share authorization by nearly 30 times to 5 billion from 170 million. Netflix has been focusing on international expansion as growth slows in the United States, where it has reshaped TV viewing habits since it was first launched in 2007.
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