Uber's second-quarter results showed earnings per share of 81 cents, matching analyst expectations, while revenue reached $14.19 billion, slightly below the anticipated $14.24 billion. Despite a 12% year-over-year revenue increase from $12.65 billion, the company's forecast for third-quarter bookings of $59.25 billion is below the average estimate of $59.33 billion.
Additionally, the earnings per share forecast of 84 to 88 cents is lower than the 89-cent expectation. Total bookings for the quarter were $58 billion, exceeding the $57.23 billion estimate. The core mobility service generated $7.36 billion in sales, and delivery revenue was $5.25 billion, with mobility gross bookings up 22% and delivery bookings up 26%.
CEO Dara Khosrowshahi noted that the World Cup positively impacted ride-hailing, with over 8 million rides taken by tourists. Uber is also expanding its delivery services, highlighted by a $14.8 billion acquisition of Delivery Hero, which will enhance its market reach.
Furthermore, the company plans to invest over $10 billion in autonomous vehicles, aiming to establish a significant presence in the AV ecosystem. However, Uber's partnership with Waymo is evolving, as they will end their exclusive agreement in certain cities by early 2028. As of now, Uber's shares have declined 12% this year, contrasting with a 14% rise in the Nasdaq index