Facebook announces its first stock buyback for $6 billion
Facebook on Friday announced that it will buy back $6 billion (over ₹40,000 crore) in shares in its first-ever stock repurchase. The social media giant's shares rose 1% in after-hours trading following the news. Among the top 10 US technology companies, ranked by cash and marketable securities, Facebook is reportedly the only one that has not bought back stock yet.