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Qualcomm buys back 29 million shares in July, August

NEW YORK
Mon Aug 27, 2007 9:42am EDT

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The Qualcomm logo in an image courtesy of the company. Qualcomm said on Monday that it bought back and retired about 29 million shares in July and August for about $1.1 billion under its $3 billion stock buyback program. REUTERS/Handout

NEW YORK (Reuters) - Qualcomm Inc (QCOM.O) said on Monday that it bought back and retired about 29 million shares in July and August for about $1.1 billion under its $3 billion stock buyback program.

Qualcomm said it still has authorization to buy another $1.5 billion worth of its shares under the stock repurchase program announced May 22. It said it has bought back about 101 million shares for a value of $4 billion since its fiscal year 2003.

(Reporting by Sinead Carew)


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