Uber Technologies Inc. revealed on Wednesday that its revenue for the second quarter of its fiscal year 2025 surged 18% on an annual basis to reach $12.7 billion, largely in line with analysts' forecasts. At the same time, net income was up 33% to $1.35 billion, while diluted earnings per share (EPS) came in at $0.63, jumping 34% compared to the same quarter of last year, matching estimates.
In addition, gross bookings recorded a 17% growth year-on-year to $46.8 billion, and trips grew 18% to 3.3 billion. The company expects gross bookings in the third quarter to rise between 17% and 21% and fall between $48.25 billion and $49.75 billion.
"Today’s announcement of a new $20 billion share repurchase authorization underscores our confidence in the business, following yet another quarter of strong top and bottom-line performance. Our trailing twelve month free cash flow hit a new all-time high of $8.5 billion and we remain committed to driving durable, profitable growth," CFO Prashanth Mahendra-Rajah added.
The transport company's shares slid 1% in premarket trading after the report's release.
