(Bloomberg) -- Facebook's board approved an $9 billion increase to the social media company's share repurchase program.
- The repurchase program does not have an expiration date and shares may be repurchased through open market purchases or privately negotiated transactions
- Shares rose about 1.1% in after market trading and the stock has declined 24% in the past 52 weeks
- NOTE: April 25, Facebook previously increased the amount authorized under its share repurchase program by an added $9 billion to $15 billion.
To contact the reporter on this story: Melodie Warner in New York at mwarner19@bloomberg.net
To contact the editor responsible for this story: Lauren Berry at lberry4@bloomberg.net
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
