Spotify expands share buyback program by $1.5 billion

Spotify Technology S.A. (NYSE: SPOT) announced that its Board of Directors has approved a $1.5 billion increase to its existing share repurchase program.

With $723 million remaining under the prior authorization, the expansion brings the total repurchase authorization to approximately $2.223 billion.

The program allows repurchases through open market purchases and other methods, in compliance with U.S. Securities and Exchange Commission rules. The timing and volume of repurchases will depend on factors including share price, market conditions, shareholder renewal of repurchase authorization, and alternative investment opportunities.

Spotify noted that the program does not obligate the company to repurchase any specific amount of shares and may be suspended or discontinued at any time.

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