Uber: $7bn share buyback plan

(CercleFinance.com) - Uber reports that its Board of Directors has authorized the repurchase of up to $7bn of the company's common stock.
NB: pmt +6.2%.

Today's authorization of its first-ever share repurchase program is a vote of confidence in the company's strong financial momentum. Management will be mindful of 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, management said.

In addition, today the company's management team will present an updated view of the firm's strategy, financial framework and capital allocation plans.


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