(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.
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