Uber Technologies has reported an 18% year-over-year (YoY) increase in revenue for the second quarter (Q2) ending June 30, 2025, and introduced a $20bn stock repurchase scheme.

Revenue for the quarter reached $12.7bn, mirroring the growth rate on a constant currency basis.

Trips also grew 18% YoY to 3.3bn, underpinned by a 15% YoY rise in monthly active platform consumers (MAPCs) and a 2% YoY uptick in monthly trips per MAPC.

Uber CFO Prashanth Mahendra-Rajah said: "Today’s announcement of a new $20bn share repurchase authorisation underscores our confidence in the business, following yet another quarter of strong top and bottom-line performance.

"Our trailing twelve month free cash flow hit a new all-time high of $8.5bn and we remain committed to driving durable, profitable growth."

Gross bookings for the quarter increased by 17% over the previous year to $46.8bn, equating to an 18% increase on a constant currency basis.

The Mobility segment accounted for $23.76bn of the gross bookings, an 18% increase from the prior year, while the Delivery segment climbed by 20% to $21.73bn.

Income from operations saw a substantial YoY leap of 82%, amounting to $1.5bn. Earnings per share for Uber advanced to $0.63 from $0.47 in the same quarter of the previous year.

The net income attributable to Uber stood at $1.4bn, inclusive of a $17m net headwind (pre-tax) due to revaluations of the company's equity investments.

The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter experienced a 35% YoY growth to $2.1bn, with the adjusted EBITDA margin as a percentage of gross bookings rising to 4.5%, up from 3.9% in the second quarter of 2024.

Uber's cash flow indicators remained strong, with net cash provided by operating activities reported at $2.6bn and free cash flow at $2.5bn.

The company's unrestricted cash, cash equivalents, and short-term investments were recorded at $7.4bn at the end of the quarter.

For the upcoming Q3 of 2025, Uber forecasts gross bookings to range between $48.25bn and $49.75bn, indicating a 17% to 21% YoY growth on a constant currency basis.

The company's adjusted EBITDA is projected to be between $2.19bn and $2.29bn, representing a 30% to 36% YoY increase.

In the field of autonomous driving, Uber has announced a partnership with Wayve to begin public-road trials of Level 4 autonomous vehicles in London in the following year.

Furthermore, Uber has entered into agreements with Lucid and Nuro to initiate a "next-generation premium global robotaxi programme," with the launch of a robotaxi service in a major US city anticipated later next year.