In the third quarter of this year, Yahoo! repurchased $1.7 billion worth of its common stock, bringing to total repurchase amount through the first nine months of 2013 to $3.1 billion. Yahoo! has watched its share price rise by almost 80% year to date.
Since Nov. 1, 2011, the company seen total shares outstanding decline by almost 15%, as shown in the chart below:
Yahoo! gave no time table for how long the authorization would be in place, or at what price it would or would not repurchase those shares. The company presently has approximately 1 billion shares outstanding; all things being equal, at today's price of approximately $35.75 per share, the company would watch its total shares outstanding fall by roughly 14% with $5 billion in repurchases.
With the $1.7 billion in repurchases in the third quarter, Yahoo! had approximately $200 million remaining on a $5 billion buyback authorization dating to 2012.