Let me say from the beginning, Share buy back is something new...

Let me say from the beginning, Share buy back is something new to me. All the other companies I have invested in actually issued more shares to raise money.
I see the reasoning, less shares floating around mean earnings per share increase .
Like a ponzi scheme in reverse.
Does not mean greater revenue.
To increase revenue, you need to increase sales.
R&D , recruiting quality personnel will increase sales.
To do this you need to spend $. Build the business.
Share buy back increases the share price, good if in a few years the company wants to do a Cash raise and issue more shares.