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Best Buy Announces $3 Billion Buyback Plan, Shares Spike

Video Credit: Wochit - Duration: 00:33s - Published < > Embed
Best Buy Announces $3 Billion Buyback Plan, Shares Spike

Best Buy Announces $3 Billion Buyback Plan, Shares Spike

Best Buy reported quarterly earnings and revenue on Wednesday that topped analysts' expectations, sending shares higher by 11% ahead of the opening bell.

The Minnesota-based retailer said its board authorized a $3 billion share buyback plan, and plans to spend between $750 million and $1 billion on share buybacks during its fiscal year 2020.

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