S&p 500 q2 2023 buybacks decline 18.8%, as sector expenditures shift again; buyback tax reduced operating earnings by 0.34%

S&p 500 q2 2023 buybacks were $174.9 billion, down 18.8% from q1 2023's $215.5 billion and down 20.4% from the q2 2022 $219.6 billion the 12-month june 2023 expenditure of $812.5 billion was down 19.2% from the record $1.005 trillion expenditure of june 2022 financials pulled back to $32.7 billion after increasing to $46.9 billion in q1 2023 from their 36.3% pullback in 2022 over concerns in banking and regulation; information technology regained the lead spending $47.1 billion in q2 2023 energy spent $18.3 billion, representing 10.4% of all buybacks, whereas the sector represented 4.1% of the market value, with exxon and chevron both placing on the top five list for the quarter the new net buyback 1% excise tax, which started in 2023, reduced q2 2023 operating earnings by 0.34% (0.45% in q1 2023) and as reported gaap by 0.38% (0.49%) new york , sept. 12, 2023 /prnewswire/ -- s&p dow jones indices ("s&p dji") announced today preliminary s&p 500® stock buybacks, or share repurchases, data for q2 2023.
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