Uber Launches $20B Buyback After Strong Q2 Growth

Uber Technologies Inc. has authorized a sweeping $20 billion stock buyback program, signalling renewed confidence following an upbeat third quarter forecast and a solid second quarter earnings report.

In the second quarter, revenue reached $12.65 billion, representing an 18% year over year increase and surpassing analysts’ expectations of around $12.47 billion. Net income rose by approximately 33% to $1.36 billion, while adjusted earnings per share came in at 63 cents, matching consensus forecasts . Gross bookings climbed to nearly $46.8 billion, up 17% from a year ago, driven by a 19.9% rise in delivery and 15.6% growth in mobility .

Uber’s executive team highlighted increasing user engagement, cross selling between rideshare and food delivery services, and momentum from its autonomous vehicle (AV) partnerships. CEO Dara Khosrowshahi pointed out that Uber is collaborating with 20 AV partners globally, positioning the company to deploy self driving vehicles in multiple regions in the second half of the year.

For the third quarter, Uber projected gross bookings of $48.25 billion to $49.75 billion well above the $47.5 billion Wall Street consensus and expected adjusted EBITDA between $2.19 billion and $2.29 billion, modestly ahead of estimates. Uber’s CFO, Prashanth Mahendra Rajah, emphasized that the new buyback, which nearly triples its previous $7 billion authorization from early 2024, reflects the company’s confidence in sustaining profitable growth, supported by record free cash flow of around $8.5 billion and liquidity near $7.4 billion.

Following the buyback announcement, Uber shares rose around 1% 1.4% in early trading. The stock has surged nearly 50% year to date, despite a slight pullback in July.

Uber Q2 2025 Financial Summary & Q3 Outlook