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Facebook Plans to Repurchase $9 Billion More of Its Shares

Facebook App And Logo As Shares Plunge
Photographer: Johannes Berg/Bloomberg

Facebook Inc. said it plans to buy back $9 billion more of its shares, in a bid to boost confidence in the company after a recent stock slump.

Facebook shares have fallen almost 40 percent since the social-media giant said in July that it expects growth to slow and profit margins to narrow in coming years. Its main social network is reaching a saturation point, so it needs to explore new types of business models. The company has also been facing scandals over its handling of misinformation and user data.