Uber has announced a new $20 billion share repurchase authorization in its second quarter earnings report for 2025. The company’s Chief Financial Officer, Prashanth Mahendra-Rajah, said the repurchase was linked to confidence in the business and strong top- and bottom-line performance.
The announcement from Uber came alongside an 18% year-over-year revenue growth to $12.7 billion and a 35% growth in Adjusted EBITDA to $2.1 billion. The company reported its net income at $1.4 billion, which also includes $17 million “net headwind” from revaluations of equity investments - this is compared to the Q2 2024 net income which included a $333 million “net benefit” from similar revaluations.
Uber’s decision to do a buyback follows a period of significant growth, with trailing twelve-month free cash flow reaching a new high of $8.5 billion. The share repurchase decision could be a strategic move to manage shareholder value, and a move away from growth at all costs.
Regarding the subdivisions of Uber, the company reported that its Mobility segment’s revenue and gross booking each grew 18% year-over-year. The Delivery business saw gross bookings grow by 20% and its revenue grew 23% in constant currency, with Adjusted EBITDA growing 48% year-over-year.
Both Mobility and Delivery saw trip growth. Mobility’s trip growth was 19% while the Delivery segment saw trip growth of 17%. To support further growth, Uber says it’s pursuing platform integration to reach cross-platform consumers who the company views as more valuable and having higher retention rates.
Interestingly, Uber CEO Dara Khosrowshahi said that the company is still only beginning to unlock the platform’s full potential with less than 20% of eligible consumers active across both Uber’s Ride Services and Eats businesses. By getting users to use all of its apps, Uber marks a shift from being solely a ride-hailing company to being a unified ecosystem.
The company shared some other interesting details in its report. For example, the company said that it’s now working with 20 autonomous partners across its Mobility, Delivery, and Freight segments with live deployments in 12 cities and plans to expand to five more this year.
The Uber One membership program also reached 36 million members that generate over 40% of combined Delivery and Mobility books. The firm’s premium vehicles, such as Comfort, SUV, and Black, also now account for more than $10 billion in annualized Gross Bookings and are growing trips at over 35% year-over-year. By growing its Uber One membership, it can secure recurring revenue from subscribers.