Financials
Buyback
A company repurchase of its own shares.
What it means
Buybacks can reduce shares outstanding when repurchases exceed new issuance. Disclosures may distinguish authorizations from actual repurchases, so cash flow and share-count data should be read together.
Example
A board may authorize a repurchase program, but the company may use only part of the authorization.
What not to infer
A buyback authorization does not prove that shares were repurchased or that share count declined.