Meta adds over $200 billion in value as job cuts and dividend pay off

Meta added over $200 billion in stock market value and its share price was on track for the biggest one-day percentage jump in a year on Friday after the Facebook parent’s first dividend declaration and robust results.

Days ahead of Facebook’s 20th anniversary, Meta authorized an additional $50 billion n share repurchases and said its quarterly dividend would be 50 cents per share.

Meta’s stock shot up as much as 21.7%.