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00:03Roblox shares rose in After Hours Trading Tuesday after the company announced a new
00:07share repurchase program, according to Benzinga. The board authorized a $3 billion share repurchase
00:13program with no fixed expiration date, with the company planning to buy back up to $1 billion
00:18in stock over the next year. CFO Naveen Chopra said the authorization reflects the company's
00:24confidence in its long-term outlook. He added that growth investment remains the top priority,
00:29but the company's balance sheet and free cash flow allow it to reduce dilution while supporting
00:34innovation. Roblox reported $6.2 billion in total cash, cash equivalents and investments as of March
00:4131st, a figure that has grown by $1.7 billion over the past year. Shares were down by 2.59
00:49%
00:49at $45.76 in Wednesday's pre-market trading, according to data from Benzinga Pro.
00:56For all things money, visit Benzinga.com.
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