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Facebook (META) announces $40 billion increase to share buyback program

In its Q4 earnings report, Facebook announced an increase to its share buyback program.

Donovan Erskine

February 1, 2023 2:37 PM

Meta

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Facebook’s (META) Q4 2022 earnings report was released today and provided some deep insight into the company’s financial performance over the past few months and the full year 2022. It also revealed some of the company’s upcoming business moves. This included an update to Facebook’s share buyback program, which it will invest $40 billion more into.

In Facebook’s (META) Q4 2022 earnings report, the company lists its major operational highlights for the full year 2022. One of the several bullet points listed was in regard to its share buyback program. Facebook bought back a significant portion of its shares, and will greatly increase the authorization of its share repurchase program.

Facebook has been buying back shares for years, and has become more aggressive on that front in recent years. Efficiency is a big point of emphasis for the company this year, and CEO Mark Zuckerberg spoke about that in the earnings release.

It’ll be interesting to see if Facebook continues to put a strong emphasis on its share repurchase program in the future. For everything you need to know about Facebook’s (META) Q4 2022 earnings report, Shacknews has all the details.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_