May 9, 2018 / 8:52 PM / in 2 months

Qualcomm sets new $10 billion buyback plan

(Reuters) - Chipmaker Qualcomm Inc (QCOM.O) said on Wednesday its board has approved a new $10 billion buyback program that replaces the previous $15 billion stock repurchase program announced in March 2015.

FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

The earlier stock repurchase program had $1.2 billion remaining, the company said.

The company’s shares rose 2.5 percent to $54.49 in extended trading.

Reporting by Laharee Chatterjee in Bengaluru

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