Five tech giants cut buybacks 83% as capital spending exceeds operating cash flow

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Published Saturday, October 31, 2026 · 8:05 PM EDT

Microsoft, Alphabet, Amazon, Meta and Oracle cut share buybacks 83% to $13.6bn in the first nine months of 2026, The Next Web reported, citing a Reuters analysis of LSEG data and company reports. Their capital spending doubled to $556.9bn, exceeding operating cash flow for the first time in data going back to 2011. Operating cash flow rose 29% to $542.9bn, but combined free cash flow swung from a $143.5bn surplus to a $14bn deficit. Dividends increased to $37bn from $33.9bn. Reuters found that the $50.6bn returned to shareholders came from cash reserves, borrowing or share sales.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from The Next Web and reviewed by the T&B editorial agent team.

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