Spotify’s Board of Directors has approved a $1.5 billion increase to the company’s share repurchase program, bringing the total authorization to roughly $2.2 billion. The company confirmed the move in a press release issued Thursday, August 20.
The expanded buyback signals continued confidence from Spotify leadership in the company’s financial position and stock valuation. Share repurchase programs allow companies to buy back their own stock, typically to return capital to shareholders and support share price.
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