BUZZ-Roblox rises after announcing first-ever share buyback

Roblox

Roblox

RBLX

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** Shares of videogame platform Roblox RBLX.N gain 3.6% to $46.09 premarket

** RBLX announced its first-ever share repurchase program of up to $3 billion after markets closed on Tuesday

** Plans to buy back up to $1 billion of its common stock over the next 12 months

** Says buyback aimed at partially offsetting dilution from employee equity grants

** "Investing in continued growth will always be our highest priority, but the strength of our balance sheet and free cash flow generation allows us to support industry leading innovation while simultaneously reducing dilution" - CFO Naveen Chopra

** As of last close, RBLX stock down 45.1% YTD


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