Uber revenue soars to $14.2 billion as trips climb

• Uber’s second-quarter revenue increased 12% to $14.2 billion as trips rose 18% to 3.9 billion.
• Gross bookings climbed 24% to $58 billion, while free cash flow reached $2.8 billion.
• Uber expects third-quarter gross bookings of $58.25–$60.25 billion and adjusted EBITDA of $2.86–$2.96 billion.

Uber Technologies (NYSE:UBER) reported second-quarter revenue of $14.2 billion, up 12%, as trips and gross bookings continued growing.

Gross bookings reached $58 billion, exceeding Uber’s previous second-quarter forecast of $56.25–$57.75 billion.

Operating income rose 30% to $1.9 billion, adjusted EBITDA reached $2.8 billion and free cash flow totalled $2.8 billion.

Uber forecast third-quarter gross bookings of $58.25–$60.25 billion.

Following the announcement, Uber's share price was up 0.5% at $71.99.

Quarterly trips rose 18% to 3.9 billion as monthly active consumers increased 16% and trips per consumer grew 2%.

Uber plans to invest more than $10 billion in autonomous vehicles and has proposed a €13 billion acquisition of Delivery Hero.