Amazon to buy back $5 billion of shares
(Reuters) - Amazon.com Inc, the world's largest e-commerce company, said on Wednesday its board authorized a $5 billion (4 billion pounds) share buyback programme.
The buyback replaces the $2 billion repurchase programme approved in 2010. The company had $763 million remaining under the previous plan.
The company's shares rose 1.5 percent to $498 in after-hours trading.
(Reporting by Kshitiz Goliya in Bengaluru; Editing by Anil D'Silva)