Google's (GOOGL) board authorizes a $70 billion increase to share buyback program

The company will be repurchasing up to $70 billion worth of its Class A and Class C shares in the months ahead.


Google was one of the latest large tech companies to report on its recent quarterly earnings results today. Its Q1 2024 earnings results spelled fairly good news for the company, but Google is also following what is now a four-year trend on its Q1 business: The company has, yet again, announced an increase in its share buyback program, authorizing an additional $70 billion for the program this year.

Google announced the additional authorized funds for its share buyback program in its Q1 2024 earnings results report on its investor relations website. In said report, Google announced the details of the increased authorized $70 billion for the program:

Google (GOOGL) stock chart as of April 25 in after-hours trading.
Google (GOOGL) stock was up in after-hours trading following the release of its Q1 2024 earnings results.

This marks the fourth year in a row that Google has authorized new funds for its share buyback program. It also authorized $70 billion apiece in funds for the program in Q1 2023 and Q1 2022. While Google does not necessarily use the entire approved $70 billion it has approved each year, it has spent an estimated total of $171.8 billion on stock repurchases over the last three years.

Google has been performing successfully quarter to quarter and posted strong revenue numbers on the backs of that success, so it looks like the share buyback program is set to continue to see increases as the company succeeds. Stay tuned for further financial reporting as other companies report on their recent quarterly earnings results, right here at Shacknews.

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TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at and also find him on Twitter @JohnnyChugs.

From The Chatty
    • reply
      April 25, 2024 4:01 PM

      yup have a layoff and then use the money to buyback some shares

      that's the rich person's get-richer-quicker scheme.

    • reply
      April 26, 2024 2:50 AM

      Holy shit. This plus the dividend program is so fucked. Some rich people gonna get way richer.

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      April 26, 2024 4:47 AM

      Should be illegal.

    • reply
      April 26, 2024 4:50 AM

      lol cannot believe this is still happening

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      April 26, 2024 5:20 AM

      They're on the way out. Still, maybe this is similar to when a big whale dies in the ocean and it provides all the food for the smaller creatures to thrive. Money will stop being put into Google and instead be used to grow new businesses

    • reply
      April 26, 2024 6:04 AM

      Think of how many cancelled products that could’ve made

    • reply
      April 26, 2024 6:46 AM

      Related story about how they killed Google search

      Didn’t realize their ceo was from McKinsey. Explains so many of their awful decisions.

      • reply
        April 26, 2024 7:21 AM

        the better offline podcast just had an episode about all the dumb shit going on at google

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      April 26, 2024 6:53 AM

      stock buybacks are the sign of a company that no longer gives any shits about their actual business and are just squeezing as much 'shareholder value' until the bust

      Not gonna lie, I wouldn't be sad if this imploded Google entirely.

    • reply
      April 26, 2024 6:59 AM

      “See, we didn’t actually make that much money.”

      “But don’t the buybacks come out of profits? And you just subtract them and then tell your staff you have no money for raises and bonuses?”

      “As you can see from this graph, we didn’t actually make that much money.”

    • reply
      April 26, 2024 7:02 AM

      Break them up!

    • reply
      April 26, 2024 7:13 AM

      Do no evil (to shareholders)

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