Uber Delivers $10B FCF, Returns $6B to Shareholders and Pershing Square Holds $2.47B Stake
Pershing Square held 30.21 million Uber shares worth $2.47 billion, highlighting 20% bookings growth and 50% profit rise in 2025. CFO Balaji Krishnamurthy outlined plans to generate $10 billion in free cash flow, return $6 billion to shareholders and deploy AVs in 15 cities.
1. Pershing Square Investment
Pershing Square held 30.21 million shares of Uber at the end of 2025, representing a $2.47 billion position and the fund’s second-largest stake. The firm cited 20% constant-currency bookings growth, 13.6 billion annual trips and a 50% profit rise in 2025 as drivers of its conviction.
2. Financial Performance Highlights
Uber generated $10 billion in free cash flow in 2025 and returned over $6 billion to shareholders through buybacks and dividends. Grocery and retail gross bookings reached $12–13 billion, underscoring strong demand across Mobility, Delivery and Freight segments.
3. Strategic Vision at Conference
At the March conference, CFO Balaji Krishnamurthy outlined strategic pillars including reinvestment in core services, increased spending on autonomous vehicle technology, disciplined mergers and acquisitions, shareholder returns and maintaining an investment-grade balance sheet. Management projected AV deployments in up to 15 cities by year-end to boost fleet utilization and operating leverage.
4. CFO Share Purchase
CFO Balaji Krishnamurthy purchased $1.6 million in Uber shares on February 24, 2026, reflecting confidence in the company’s outlook. Projections of an improving pricing environment for U.S. trips and gross bookings support expectations for accelerated revenue growth.