Core Insights - Uber reported better-than-expected Q2 revenue and guidance, indicating further growth potential in its core ride-hailing and delivery businesses [1] - The company announced a new $20 billion stock buyback plan [1] Financial Performance - Q2 revenue increased by 18% year-over-year to $12.7 billion, exceeding market expectations; earnings per share were $0.63, in line with forecasts [1] - Total bookings for Q2 grew by 17% to $46.8 billion, surpassing market expectations [2] - Adjusted EBITDA reached a record $2.12 billion, higher than the anticipated $2.09 billion [2] Business Segments - The delivery segment performed strongly, offsetting a slight decline in ride bookings; more users in the U.S., Australia, Canada, and Mexico are utilizing delivery services [2] - The ride-hailing segment's total bookings reached $23.8 billion, slightly below analyst expectations of $23.9 billion [2] Future Outlook - For Q3, total bookings are expected to range between $48.25 billion and $49.75 billion, exceeding previous market expectations of $47.6 billion [2] - Adjusted EBITDA for Q3 is projected to be between $2.19 billion and $2.29 billion, with the midpoint exceeding market forecasts [2] Strategic Initiatives - The company is leveraging cross-selling advantages between its two core services, with 12% of annual delivery orders (approximately $10 billion) generated through the Uber rides app [3] - The paid membership program, Uber One, saw a 60% year-over-year increase in subscribers, now exceeding 36 million, contributing 40% of total bookings [3] - Uber plans to intensify efforts to expand its business outside major European cities and is exploring partnerships with taxi companies to enter new markets [3] Market Response - Following the announcement, Uber's stock rose over 1% in pre-market trading [4]