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Uber reports record Q2 revenue as free cash flow tops $10 billion

Uber said it generated more than $10 billion in trailing 12-month free cash flow for the first time, and its Q2 buybacks reduced the average share count by 7.5%.

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Uber Technologies delivered record Q2 revenue, while profitability improved as the ride-hailing company continued to drive bookings and step up capital returns, according to MarketBeat Ratings.

Uber reported Q2 revenue up 12% to a record $14.19 billion, with bookings increasing 24%. Total trips rose 18%, alongside an 16% increase in its user base and a 2% increase in trips per user, while first-time user growth was described by the CEO as the strongest in a decade.

The company also highlighted growth across its segments, with Mobility up 22%, Delivery up 25%, and Freight up 25%. Adjusted operating income rose 40%, and adjusted earnings per share increased 35%, as margins widened across levels.

MarketBeat Ratings also noted that Uber targets returning 50% of free cash flow to shareholders through buybacks, and that Q2 buyback activity led to a 7.5% reduction in the average share count. The outlet said the firm’s cash and current assets were down year to date due to buybacks and increased investment in autonomous-driving technology.

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