Alibaba Group (BABA) has released an update.
Alibaba Group has actively bought back shares, spending $4.8 billion in the last quarter and $12.5 billion over the fiscal year ending March 2024 to repurchase a significant amount of its stock. The buybacks have led to a 5.1% net reduction in the total number of outstanding shares, after accounting for new shares issued under the Employee Stock Ownership Plan. With $31.9 billion still authorized for repurchases, Alibaba’s commitment to share buybacks is expected to continue until March 2027.
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