Uber CEO Dara Khosrowshahi reports strong second-quarter growth despite missing analyst projections for third-quarter bookings.
Uber shares fell approximately 6% on Wednesday following the release of second-quarter results. While the company reported gross bookings of $58.0 billion, exceeding analyst estimates, and adjusted EBITDA of $2.82 billion, CEO Dara Khosrowshahi noted that third-quarter bookings guidance fell slightly below the average consensus of $59.32 billion. Khosrowshahi highlighted the company's continued expansion into autonomous vehicles, announcing a commitment of over $10 billion to build a world-class robotaxi platform. The company is diversifying its partnerships, moving away from an exclusive agreement with Waymo to work with providers like Lucid, Rivian, and Nissan. Despite the slight miss in future guidance, the company's core mobility and delivery segments showed robust growth. Mobility bookings rose 22% year-over-year, while delivery bookings jumped 26%. Khosrowshahi stated that the company is investing from a position of strength to enhance the platform's overall growth.