Question about stock buybacks.

I recently learned that FB has done alot of stock buyback in its 4th quarter.

that got me thinking, why didnt they wait to do the stock buyback until AFTER their earnings? i mean they already knew before hand what they were about to say was bad. and most likely would drop their stock price (even if it they didnt know it was goign to tank, they would have known it would drop atleast).

why didnt they wait for their stock buybacks until after their earnings call and seeing how the market reacts to their news?

that way they would have bought their shares at a very steep discount.


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