Amazon Outlines $5 Billion Stock-Buyback Plan
February 10 2016 - 5:10PM
Dow Jones News
Amazon.com Inc. said its board authorized the repurchase of as
much as $5 billion of the online retailer's stocks.
The company's shares, which have fallen 19% in the past month,
rose 1.4% to $497.50 in recent after-hours trading.
In a regulatory filing, Amazon said the latest stock-buyback
plan replaces its previous $2 billion share-repurchase program that
the board approved in 2010.
Late last month, Amazon reported the largest quarterly profit in
its 19-year history as a public company, as more consumers eschew
brick-and-mortar retail for the convenience of ordering goods and
services from their couch. However, the results missed analysts
expectations.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
February 10, 2016 16:55 ET (21:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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