Microsoft plans massive stock buyback
C|Net | at | by Mike
Microsoft on Thursday reported earnings that were just ahead of analysts' expectations, as the company announced a plan to buy back as much as an extra $40 billion worth of its stock.
The software maker said it would buy back $20 billion through a tender offer set to be completed on Aug. 17. The company said that its board of directors has also authorized the company to buy back up to $20 billion worth of stock through June 2011. The company said it has completed the $30 billion stock buyback announced two years ago.