Broadcom Announces $10 Billion Share Buyback Plan, Stock Rises 5.8% with 4.4% Premarket Increase, CFO Kirsten Spears States

Broadcom Inc. (NASDAQ: $AVGO) announced a $10 billion share buyback plan, leading to a premarket stock increase of 4.4% and a subsequent rise of 5.8%. The buyback program, which is set to run through December 2025, reflects the company's strong cash flow and commitment to enhancing shareholder value. CFO Kirsten Spears emphasized that the buybacks will be executed through open market purchases or private deals. This strategic move comes amid recent market volatility and follows a notable decline in Broadcom's stock, signaling the board's confidence in the company's future prospects.