Meta Has Repurchased $14.7 Billion of Its Own Stock This Year -- Should You Buy Too?
Social media titan Meta Platforms (NASDAQ: META) is under siege. The company last week reported its first-ever year-over-year revenue decline in the second quarter of 2022. Its already-widely-used social apps were reporting slowing growth, intense competition from the likes of TikTok, after-effects from Apple's user privacy changes, and economic challenges like a strong U.S. dollar. Together, these headwinds are really adding up.
Under the surface, though, Meta remains highly profitable, and management is using that profitability to repurchase lots of stock. About $14.7 billion worth so far in 2022 alone.
Should shareholders be buying too?
Source Fool.com
