https://apnews.com/b884c9ac96be1c22f81d7243176a321d

SAN FRANCISCO (AP) — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.

But the company's stock soared in extended trading, as its revenue beat Wall Street's muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback.