Categories Technology
Shares jump as Broadcom board gives the green light to $12-billion share buyback
Chipmaker Broadcom Inc. (AVGO) announced that its Board of Directors authorized the buyback of up to $12 billion of its common stock. This was effective immediately on the announcement and extends till the end of Broadcom’s fiscal year 2019 — November 3, 2019. Shares jumped at least 4.4% aftermarket on Thursday following the news.
CFO Tom Krause said Broadcom is on board to deliver 50% of the trailing 12-month free cash flow to shareholders in the form of dividends.
The announcement came as a confidence lifter when the chipmaker was facing flak on its ability to operate as a US company. Broadcom forced to move back to the US from Singapore, shortly after POTUS Trump demanded the company to drop its takeover bid for rival chipmaker Qualcomm (QCOM).
Most Popular
Infographic: Key metrics from Estee Lauder’s (EL) Q3 2024 earnings results
The Estee Lauder Companies Inc. (NYSE: EL) reported its third quarter 2024 earnings results today. Net sales were $3.94 billion, up 5% from the prior-year quarter. Organic sales increased 6%.
YUM Earnings: Key quarterly highlights from Yum! Brands’ Q1 2024 financial results
Yum! Brands, Inc. (NYSE: YUM) reported first quarter 2024 earnings results today. Total revenues decreased 3% year-over-year to $1.59 billion. Same-store sales declined 3%. Net income increased 5% to $314
Pfizer (PFE) Q1 2024 Earnings: Key financials and quarterly highlights
Pfizer Inc. (NYSE: PFE) reported first quarter 2024 earnings results today. Revenues decreased 20% year-over-year to $14.8 billion. Reported net income declined 44% to $3.1 billion, or $0.55 per share,
