By Colin Kellaher
PayPal's board has approved a new $15 billion share-repurchase program, boosting the payments company's buyback authorization to nearly $20 billion.
PayPal, which has about one billion shares outstanding and sports a market capitalization of nearly $90 billion, on Tuesday said it plans to buy back about $6 billion worth of stock this year.
The San Jose, Calif., company shelled out $6 billion to buy back about 92 million shares last year.
PayPal said the new repurchase authorization is in addition to a June 2022 buyback program that had $4.86 billion remaining at the end of 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
02-04-25 0716ET
