Uber increasingly considering buybacks as cash flow ramps up – CEO

FILE PHOTO: Logo of Uber is seen at a temporary showroom during the World Economic Forum in Davos

(Reuters) – Uber Technologies 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)