Uber CEO Dara Khosrowshahi reports second-quarter earnings and forecasts a slightly lower third-quarter booking growth.
Uber CEO Dara Khosrowshahi reported that the company's second-quarter profit met expectations, but the third-quarter forecast for bookings and earnings per share trailed analyst estimates. Shares fell approximately 4% on Wednesday following the announcement. While revenue increased 12% to $12.65 billion and net income rose to $2.39 billion, the company's projected third-quarter bookings of $59.25 billion fell slightly below the average analyst estimate of $59.33 billion. Dara Khosrowshahi noted that the World Cup served as a boost for the ride-hail business, with over 8 million tourists taking rides across host cities. The company is expanding its delivery services and has committed over $10 billion to bring autonomous vehicles to market at scale. Dara Khosrowshahi emphasized that Uber is building a strong position in the autonomous vehicle ecosystem while maintaining diverse partnerships to avoid over-reliance on a single provider.