Facebook sets $6 billion buyback

Social media giant Facebook Inc on Friday set a $6 billion buyback programme for its Class A shares, beginning in the first quarter of 2017.

Facebook`s shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close.

The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17.