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MSFT $20 Billion Buyback

August 17th, 2006 by Patrick S

New Zealand’s very own Chris Liddell (CFO of Microsoft) appeared on a television talk show tonight announcing a Microsoft “buy back” deal that closes in America tonight. Microsoft is buying back 8% of their shares from current shareholders. This “tender” for the shareholders shares is set to cost Microsoft around 20 Billion U.S. Dollars.

Microsoft reported a fall in fourth quarter net income to $2.83billion from $3.70billion in the same period last year, thanks in part to one-off legal costs, However Revenues increased by 16% over the period to $11.8 billion.
Nevertheless, it issued a bullish forecast for 2007, predicting revenues of between $49.7billion and $50.7billion and operating income of up to $19.4billion.

All in an effort to boost share prices i guess,

Patrick S

Posted in Corporation, Microsoft, MS News | 1 Comment »


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