IBM adds $5 billion to share buyback program

Reuters News
Posted: Oct 28, 2014 1:25 PM

(Reuters) - IBM Corp <IBM.N> said its board had approved a $5 billion share buyback in addition to the $1.4 billion remaining from its existing program.

The company has been criticized for pursuing buybacks at the expense of investment in new technology.

IBM spent $13.5 billion to repurchase stock in the first nine months of the year, more than double its net income.

Fear and Loathing of Jordan Peterson
Suzanne Fields

(Reporting by Anya George Tharakan in Bangalore; Editing by Tresa Sherin Morera)