Uber increasingly considering buybacks as cash flow ramps up
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The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing Rights
Sept 7 (Reuters) – Uber Technologies (UBER.N) is considering buybacks and dividends to shareholders as its cash flow ramps up, CEO Dara Khosrowshahi said at an event on Thursday.
“We are now entering a phase where we are increasingly thinking about returning the capital to shareholders, either through dividends or buybacks, more likely with buybacks,” Khosrowshahi said at the Goldman Sachs Communacopia + Technology conference.
Uber in August reported its first-ever operating profit of $326 million for the second quarter ended June. It had more than $1 billion in free cash flow in the period.
Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath
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