Dara Khosrowshahi, CEO of Uber, talking on CNBC’s Squawk Field exterior the World Financial Discussion board in Davos, Switzerland on Jan. 22, 2025.
Gerry Miller | CNBC
Uber reported second-quarter outcomes on Wednesday that beat on income and introduced the authorization of a $20 billion inventory buyback.
Here is how the corporate did versus analysts’ estimates compiled by LSEG:
- Earnings per share: 63 cents vs. 63 cents anticipated.
- Income: $12.65 billion vs. $12.46 billion anticipated.
Listed below are the important thing section numbers:
- Mobility (gross bookings): $23.76 billion, up 18% 12 months over 12 months
- Supply (gross bookings): $21.73 billion, up 20% 12 months over 12 months
Uber’s income elevated 18% from $10.7 billion a 12 months earlier. For the quarter ending June 30, web earnings rose to $1.36 billion, or 63 cents per share, from $1.02 billion, or 47 cents per share, a 12 months in the past.
Gross bookings rose 17% to $46.8 billion, and the corporate reported adjusted earnings of $2.12 billion.
“At this level, we’re not seeing weak point within the shopper,” CEO Dara Khosrowshahi instructed CNBC’s “Squawk Field” Wednesday. “It is regular as she goes, and for Uber, that is nice information.”
Uber’s “month-to-month lively platform shoppers” elevated 15% to 180 million within the second quarter. The corporate stated customers booked round 3.3 billion journeys in the course of the interval, up 18% from a 12 months earlier.
Within the second quarter, Uber launched Senior Accounts, together with an “app expertise” that options bigger textual content and icons, and different options that permit household organizers to e book and handle rides for others.
The corporate additionally lately began testing a brand new function within the U.S. that enables ladies riders or drivers to keep away from being paired with males of their trip when attainable.
In some worldwide markets, Uber Eats’ meals supply service is extra widespread than trip hailing, and the corporate is working to extend “cross-platform exercise” to drive gross sales progress, Khosrowshahi stated in a launch.
Autonomous rides
Uber doesn’t get away the portion of journeys or deliveries it’s now conducting by way of autonomous autos, however it’s now a significant focus for the corporate.
The ride-hailing firm stated it has partnerships with 20 firms concerned in autonomous mobility, supply and freight providers, and is providing autonomous providers in 12 completely different cities already. Its companions vary from robotaxi leaders Waymo and Apollo Go, to venture-backed startups like Could Mobility, Nuro and Wayve.
Uber and Alphabet-owned Waymo started industrial robotaxi service in Austin, Texas, in March, months forward of Elon Musk‘s automaker Tesla.
“It is nice to see Tesla available in the market. They’re taking their time and they’re ensuring they’re increasing in a protected means,” Khosrowshahi stated Wednesday.
“All of this competitors in autonomous goes to create safer streets, and we’ll be a giant a part of that,” he added.
Uber shares have been up 48% this 12 months as of Tuesday’s shut, whereas the Nasdaq has gained about 8% over that stretch.
Executives will go over outcomes and the corporate’s outlook on a name with analysts at 8 a.m. ET.
Uber YTD inventory chart.
