Uber beats on revenue, announces $20 billion stock buyback

Uber reported second-quarter results connected Wednesday that bushed connected gross and announced the authorization of a $20 cardinal banal buyback.

Here's however the institution did versus analysts' estimates compiled by LSEG:

• Earnings per share: 63 cents vs. 63 cents expected.
• Revenue: $12.65 cardinal vs. $12.46 cardinal expected.

Here are the cardinal conception numbers:

• Mobility (gross bookings): $23.76 billion, up 18% twelvemonth implicit year
• Delivery (gross bookings): $21.73 billion, up 20% twelvemonth implicit year

Uber's gross accrued 18% from $10.7 cardinal a twelvemonth earlier. For the 4th ending June 30, nett income roseate to $1.36 billion, oregon 63 cents per share, from $1.02 billion, oregon 47 cents per share, a twelvemonth ago.

Gross bookings roseate 17% to $46.8 billion, and the institution reported adjusted net of $2.12 billion.

Uber's "monthly progressive level consumers" accrued 15% to 180 cardinal successful the 2nd quarter. The institution said users booked astir 3.3 cardinal trips during the period, up 18% from a twelvemonth earlier.

CEO Dara Khosrowshahi said successful prepared remarks that Uber sees "enormous imaginable successful amended serving families crossed each stages of life."

In the 2nd quarter, Uber launched Senior Accounts, including an "app experience" that features larger substance and icons, and different features that let household organizers to publication and negociate rides for others.

The institution besides precocious started investigating a caller diagnostic successful the U.S. that allows women riders oregon drivers to debar being paired with men successful their thrust erstwhile possible.

In immoderate planetary markets, Uber Eats' nutrient transportation work is much fashionable than thrust hailing, and the institution is moving to summation "cross-platform activity" to thrust income growth, Khosrowshahi said.

Uber shares are up 48% this twelvemonth arsenic of Tuesday's close, portion the Nasdaq has gained astir 8% implicit that stretch.

Executives volition spell implicit results and the company's outlook connected a telephone with analysts astatine 8 a.m. ET.

Uber YTD banal chart.