Comcast Raises Share Buy Back Authorization To $20 Bln; Stock Up In Pre-market

(RTTNews) - Telecom major Comcast Corporation (CMCSA) said on Wednesday that it has increased its share repurchase program authorization to $20 billion, with effect from September 13.

The new authorization does not have any expiration date, the company said in a statement.

Until now, the Comcast has bought back $9 billion of its Class A common stock.

On January 27, the company had announced to raise its share repurchase drive authorization to $10 billion, with effect from January 1.

Comcast is trading up by 2.12 percent at $34.17 per share in pre-market on the NasdaqGS.

At the close on Tuesday, CMCSA declined by 6.25 percent to $33.46 per share on NasdaqGS.