Uber CEO Dara Khosrowshahi on Q2 results: Very excited about the growth and profitability of company

Financial Performance - Uber reported earnings of $063 per share, matching estimates, with revenue of $1265 billion, exceeding expectations [1] - The company authorized a $20 billion share buyback [1] - Trip growth reached 18%, totaling 33 billion trips, and gross bookings grew by 18% in constant currency, amounting to $47 billion [3] - EBITDA increased by 35% to $21 billion, marking a record for the company [3] - Free cash flow in the past year amounted to $85 billion [4] Market Trends and Consumer Behavior - Consumer demand remains strong in both mobility and delivery sectors in the US [5] - Uber is modulating insurance cost increases and passing savings onto consumers, which doesn't affect profitability [6] - In the US, trip growth accelerated in July compared to Q2, and Q3 trip growth in the US mobility sector is expected to be faster than Q2 [7] - Uber employs a barbell strategy, offering savings to price-sensitive consumers while also catering to the premium demographic [9] - Premium business is up over $10 billion, with 30% growth, and the reserve business is up 50% [11] Autonomous Technology and Competition - The Baidu deal is primarily focused on autonomous technology, aiming to tap into a $1 trillion total addressable market (TAM) [12] - Uber is collaborating with Waymo in Austin and Atlanta, with Waymo in Atlanta being busier than 99% of drivers in Atlanta [13] - Tesla is viewed as both a potential competitor and partner in the autonomous vehicle market [15]