(Reuters) – Chipmaker Qualcomm Inc said on Wednesday its board has approved a new $10 billion (7.38 billion pounds) buyback program that replaces the previous billion stock repurchase program announced in March 2015.
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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
