Uber shares rally after announcing inaugural $7bn share repurchase program
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Uber Announces Inaugural $7 Billion Share Repurchase Authorization
February 14, 2024 6:55 AM ESTSAN FRANCISCO--(BUSINESS WIRE)-- Uber Technologies, Inc. (NYSE: UBER) today announced that its Board of Directors has authorized the repurchase of up to $7 billion of the companys common stock.
Todays authorization of our first-ever share repurchase program is a vote of confidence in the companys strong financial momentum. We will be thoughtful as it relates to the pace of our buyback, beginning with actions that partially offset stock-based compensation, and working towards a consistent reduction in share count, said Prashanth Mahendra-Rajah, CFO.
Uber will also host its previously announced... More
