Zuckerberg announces $40 billion stock buyback…

Zuckerberg announces $40 billion stock buyback…

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Facebook's CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California. Justin Sullivan Getty Images Facebook parent Meta Platforms said in its quarterly earnings statement on Wednesday that it has increased its share repurchase authorization by $40 billion. In 2022 the social network operator bought back about $28 billion in stock, according to the statement. The company began buying back shares in 2017, according to FactSet, but ratcheted quarterly buybacks up above the $10 billion mark for the first time in 2021, as growth from the Covid pandemic helped double net income....
Source: https://www.cnbc.com/2023/02/01/facebook-parent-meta-announces-40-billion-stock-buyback.html