Facebook Inc. (FB) CEO Mark Zuckerberg released the social network’s first quarter results and to perk investors up a bit more, Facebook announced it would buy back $9 billion more in shares, after initially announcing a $6 billion buyback.

Let’s take a look at Yahoo Finance to see how ETFs with exposure to Facebook are reacting to the $9 billion buyback as of 12 p.m. Eastern time.

10 ETFs with Facebook exposure back up

  • Global X Social Media Index ETF (SOCL) with 8.85% weighting up 2.74%.
  • iShares U.S. Technology ETF (IYW) with 7.82% weighting up 1.90%.
  • Entrepreneur 30 Fund (ENTR) with 7.68% weighting up .015%.
  • First Trust Dow Jones Internet Index(FDN) with a 7.28% weighting up 2.13%.
  • PowerShares NASDAQ Internet Portfolio (PNQI) with a 6.86% weighting up 2.0%.
  • Technology Select Sector SPDR Fund (XLK) with a 6.84% weighting up 1.54%.
  • Vanguard Information Technology ETF (VGT) with a 6.34% weighting up 1.82%.
  • Fidelity MSCI Information Technology Index ETF (FTEC) with a 6.33% weighting up 1.89%.
  •  SPDR MFS Systematic Growth Equity ETF (SYG) with a 6.26% weighting saw no change.
  •  iShares North American Tech ETF (IGMwith a 5.97% weighting up 1.94%.

Facebooks Earnings Reports Beat Predictions

Facebook was rising 7% in premarket trading on Thursday after the social media giant posted first-quarter earnings and revenue that beat analysts’ expectations.

Facebook reported revenue of $11.97 billion, compared to forecasts of $11.4 billion. The company also said diluted earnings came in at $1.69 a share, beating predictions of $1.35 a share.

According to Investors, “Facebook stock was near its 50-day moving average — a positive signal — after crashing through it on March 16 when new reports of the Data Analytica privacy scandal emerged. The company said it ended the quarter with 1.45 billion daily active users, matching the consensus. It reported having 2.2 billion monthly active users, also meeting estimates.”

Related: How Facebook Broke the Internet and Our Brains

Facebook Business Model Leads to 9 Billion Buyback

Ahead of the earnings report, analysts had cited advertising revenue and user engagement as key concerns following the Cambridge Analytica data scandal. But Facebook reported an average of 1.45 billion daily active users during March 2018, an increase of 13% year over year. Advertising revenue was about $11.8 billion, compared to a consensus estimate of $11.3 billion.

“We think that ads is a great business model that is aligned with our mission,” CEO Mark Zuckerberg told investors on a conference call after the earnings were released.  “I know that a lot of people have had questions about the business model, and this is something that I just think we at Facebook are very proud of,” Zuckerberg added. “And we think that it is the right way to build a service that connects everyone around the world.”

For those reasons, Facebook announced it will buy back 9 billion more in shares instead of the initial 6 billion.

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