Qualcomm announces new $10 billion stock buyback

FILE PHOTO: Qualcomm's logo is seen during Mobile World Congress in Barcelona

(Reuters) – Qualcomm Inc on Tuesday announced a new $10 billion stock buyback, effective immediately.

The repurchase will add to the company’s stockbuyback program announced in July 2018, which has $900 million of repurchase authority remaining.

(Reporting by Arathy S Nair in Bengaluru; Editing by Devika Syamnath)