a share buy back, page-20

Ryan

But as the company had to BUY those shares, it is poorer by $1,500,000.

In other words, the market cap falls to $4,430,545,487.

$4,430,545,487 divided by 2,331,866,046 shares gives you $1.90 per share.

Company eanings are largely unaffected though (but they won't be earning anything on that $1,500,000 cash any more!), so EPS on the remaining $2,331,866,046 shares rises.

I think you'd find Ryan that if it was that easy, everyone would be doing it.

Cheers. H.C.