Alphabet announces $70 billion buyback

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CEO of Alphabet and Google Sundar Pichai during press conference at the Chancellery in Warsaw, Poland on March 29, 2022.
Mateusz Wlodarczyk | Nurphoto | Getty Images

Alphabet said on Tuesday that its board of directors authorized $70 billion in share repurchases, a major step up from last year’s authorization of $50 billion and authorization of $25 billion in 2019.

Alphabet stock dropped more than 6% in extended trading after missing expectations for earnings and revenue.

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