Qualcomm May Repurchase up to $5 Billion of Shares

Wednesday, 11 Sep 2013 09:31 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Qualcomm says its board has approved a $5 billion stock repurchase program.

The San Diego-based wireless chipmaker said Wednesday that it's replacing a $5 billion program announced on March 5. Since July 24, the company has repurchased about 40.1 million shares of common stock for $2.7 billion. Buying back company stock can help support earnings per share and offset the effect of paying employees in stock.

Qualcomm CEO Paul Jacobs says the company plans to further discuss its capital plans at its analyst day in November.

Qualcomm stock is up 60 cents to $68.69 in after-hours trading. Shares closed Wednesday at $68.09 and are up 10 percent this year.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved