Uber: $7 billion share buyback project

(CercleFinance.com) – Uber announces that its board of directors has authorized the repurchase of a maximum amount of $7 billion of the company’s common shares.

‘Today’s authorization for our first-ever share buyback program is a vote of confidence in the company’s strong financial momentum. We will be careful about the pace of our buyback, starting with shares that partially offset stock-based compensation, and working towards a steady reduction in the number of shares,’ said Prashanth Mahendra-Rajah, CFO.

Additionally, the company’s management team will today present an updated view of its strategy, financial framework and capital allocation plans of the firm.

Copyright © 2024 CercleFinance.com. All rights reserved.

Did you like this article ? Share it with your friends using the buttons below.





Source link -85