Amazon to buy back $5 billion of shares

The buyback replaces the $2 billion repurchase programme approved in 2010. Inc , the world`s largest e-commerce company, said on Wednesday its board authorized a $5 billion 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.

Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.