Facebook-parent Meta announces $40 billion stock buyback

(CNBC) 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

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