Microsoft buys back billions in stock
InternetNews | at | by Mike
Microsoft said it will repurchase $16.2 billion shares of additional stock, expanding the buyback program announced in July to $36.2 billion.
In July, the software giant said it would buy back $20 billion in shares by August 17, 2006 with an option to purchase another $20 billion before June 30, 2011.
Microsoft announced it would repurchase 155 million common shares of its stock, amounting to $3.8 billion. The news followed the closing of yesterday's Dutch-auction based tender offer.
Microsoft saw $44.28 billion in revenue for the fiscal year ending June 30, a rise of 11 percent.