IBM Adds $7 Billion for Buybacks to Boost Per-Share Earnings
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International Business Machines Corp., the biggest computer-services provider, added $7 billion to its share-buyback plan to boost per-share earnings and investor returns.
The addition brings the size of the repurchase program to $12.2 billion, as IBM had $5.2 billion remaining of its previous repurchase authorization, according to a statement from the Armonk, New York-based company today. Last week, IBM said it had bought back $11.5 billion of stock this year.