FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
(Reuters) - Meta Platforms Inc shares rose nearly 20% in premarket trade after the Facebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan by $40 billion.
The company was set to add around $75 billion to its market value and would post its best day in a decade, if gains hold.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
