Microsoft to buy back $40 bln stock

LOS ANGELES, Sept. 22 (Xinhua) — Software giant Microsoft Corp. said Monday it would buy back up to another 40 billion U.S. dollars of its shares.

The company said a plan to this effect has been approved by its board.

The program expires on Sept. 30, 2013, Microsoft said in a regulatory filling.

As of July 28, Microsoft had about 9.13 billion shares outstanding, according to the filling.

The Redmond, Washington-based company said it has completed its previous 40- billion-dollar stock repurchase program.

Microsoft shares rose 1.22 dollars, or 4.9 percent, to 26.38 dollars in pre market trading