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QCOM Drumbeats Share Buyback to Distract from Dilution Via Options and ESPP
Posted by: JK_VI (IP Logged)
Date: January 22, 2014 12:56PM
QualComm has fantastic technical capabilities and financial ratios (net margin and growth). Yet whenever I look at their earnings reports or share repurchase announcements, I notice they only mention good big cumulative numbers like below ffrom Sep 11, 2013 announcement
On contrary, if you carefully notice, shares outstanding has gone up by 120+ million shares! ==> 120M * 75 = 9 B$ (or more depending on how you count repurchases and issuance adjustments). 10K provides some information but it's too complicated to make sense of it without complex spreadsheets and efforts.
Hence in interest of fair and full disclosure, I have been trying to get info from QCOM-InvRelations regarding this but they don't respond OR just redirect to 10K. It would be very helpful if companies published year-by-year simple info & graphic of "Shares Issued, impacting/diluting shareholders"
SEC should mandate companies to publish year-by-year simple tabular-info (as this impacts/dilutes shareholders returns)
Stocks Discussed: QCOM,