Uber Initiates $1.5 Billion Share Buyback Under $7B Plan, Shares Rise 3.2%

Jan 6, 2025, 12:07 PM

Uber Technologies Inc. has initiated a $1.5 billion accelerated share repurchase (ASR) program as part of its previously announced $7 billion share repurchase plan. The company began the ASR on January 6, 2025, with an initial delivery of approximately 18.6 million shares. The program is expected to be completed in the first quarter of 2025 and will reduce Uber's market capitalization by over 1%. Following the announcement, Uber shares rose 3.2% in premarket trading. Additionally, Uber has been added to Wedbush's Best Ideas List.