UBER - Uber's Stock Is On A Ride Wednesday - Here's Why | Benzinga
Uber Technologies, Inc (NYSE:UBER) stock is trading higher on Wednesday after the ride-hailing giant announced that its Board has authorized the repurchase of up to $7 billion of the company's common stock.
Last week, Uber reported fourth-quarter FY23 results. It clocked a revenue growth of 15% year-on-year to $9.94 billion, beating the consensus of $9.76 billion.
Uber's GAAP EPS of $0.29 beat the consensus of $0.17. Trips grew 24% year-over-year to 2.60 billion, or 28 million per day.
The ride-hailing firm generated $768 million in free cash flow.
Meanwhile, ride-hailing company and peer Lyft, Inc (NASDAQ:LYFT) reported its fourth-quarter financial results on Tuesday.
The Uber rival clocked quarterly sales of $1.225 billion, up by over 4% year-on-year, beating the consensus of ...