Facebook Expands Share Buybacks – WSJ
stated Friday it authorized a plan to spice up its proportion-buyback program by way of $nine billion.
The social-media massive had up to now approved repurchases of as much as $15 billion of the corporate’s magnificence A commonplace inventory in 2017. This is the second one build up to its repurchase program this 12 months. In April, it boosted this system by way of $nine billion.
In the primary 9 months of 2018, the corporate used $nine.39 billion to shop for again 54 million stocks of its magnificence A commonplace inventory, consistent with its quarterly submitting with the Securities and Exchange Commission on Oct. 31. At the time, it stated it had $three.54 billion final in this system.
In the securities submitting saying the rise, the social-media massive stated the repurchase program doesn’t have an expiration date.
The buyback announcement comes as Facebook’s proportion value has declined about 37% since its top in July amid privateness issues, questions in regards to the corporate’s dealing with of knowledge and an general slide in tech shares.
Facebook stocks, which closed Friday at $137.42, rose zero.7% in publish-marketplace buying and selling.
Appeared within the December eight, 2018, print version as ‘Facebook Expands Share Buybacks by way of $nine Billion.’