Alphabet (GOOG) (GOOGL) Authorizes $5B Buyback of Class C Stock

In addition to earnings, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) announced that board of directors authorized the company to repurchase up to $5,099,019,513.59 of its Class C capital stock, commencing in the fourth quarter of 2015. The repurchase is expected to be executed from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans.

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