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The stock buyback and profit increase suggest strong company fundamentals. Similar past buybacks often boosted stock prices.
What happened, with direct paths to the underlying reporting
IAG's profit rose 17% to €1.43 billion, exceeding expectations. Revenue increased 8% to €9.33 billion, driven mainly by British Airways. IAG announced a €350 million stock buyback amid strong financial performance. Company expects continued strong performance for the rest of the year. IAG shares have gained 50% this year following positive earnings results.
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