Uber reported strong second-quarter results on Wednesday, surpassing analyst expectations with an 18% revenue increase from the previous year and announcing a massive $20 billion stock buyback program.
The ride-hailing giant posted revenue of $12.65 billion, beating the $12.46 billion expected by analysts. Earnings per share matched forecasts at 63 cents. Key segments showed robust growth, with Mobility gross bookings rising 18% to $23.76 billion and Delivery bookings increasing 20% to $21.73 billion, News.Az reports, citing foreign media.
CEO Dara Khosrowshahi highlighted the company’s expanding consumer base, with monthly active platform users growing 15% to 180 million in Q2, and around 3.3 billion trips booked—up 18% year over year. Uber also launched new “Senior Accounts” to better serve older customers and tested safety-focused features allowing women riders and drivers to avoid mixed-gender pairings.
The company is accelerating its push into autonomous vehicle technology, partnering with 20 firms and offering autonomous services in 12 cities. Khosrowshahi emphasized the potential of AI in transforming physical transportation, noting Uber’s competitive collaboration with companies like Waymo.
Uber shares have surged 48% so far this year, outperforming the broader Nasdaq index. Executives are scheduled to discuss results and future plans in an analyst call later Wednesday.
