"Uber Technologies Inc. reported gross bookings of $46.8 billion for the three months ending June 30, surpassing analysts’ estimates and showing strong growth in food delivery."
"Despite an upbeat forecast, Uber's shares fell 3.5% following disappointing performance in its rideshare business, though stock year-to-date remains up 44%."
Uber Technologies Inc. reported gross bookings of $46.8 billion for the second quarter, exceeding analyst expectations. The strong performance came primarily from its food delivery unit, while rideshare business showed softer results. Shares fell by 3.5%, erasing some gains despite a year-to-date increase of 44%. The company aims for 18% to 21% growth in the upcoming period, with an announcement of $20 billion in new share buybacks reflecting CEO's confidence. Increased user frequency and potential in cross-selling services to varied customer needs were highlighted as key growth strategies.
Read at www.mercurynews.com
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