Thursday , August 5 2021

Facebook will repurchase another $ 9 billion in shares



REUTERS: Facebook will repurchase another $ 9 billion of its shares as it seeks to calm investors after a slump in their stock.

The shares of the social media giant, which fell more than 22 percent this year, rose nearly 1 percent in extended trading.

The new program is in line with a $ 15 billion share repurchase plan announced by the company last year.

Facebook is being investigated by British lawmakers after consulting Cambridge Analytica, who worked on Donald Trump's presidential campaign in the US, obtained personal data from 87 million Facebook users of a researcher.

Concerns about the practices of the social media giant, the role of political announcements and possible foreign interference in the 2016 Brexit vote and the US election are among the topics being investigated by UK and European regulators.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Anil D & # 39; Silva)


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