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Uber's $20B buyback signals confidence amid booming business

Business

Uber just announced a huge $20 billion stock buyback, showing real confidence as its business keeps booming.
The company expects third-quarter bookings to hit nearly $50 billion—way above what Wall Street predicted—thanks to more people using its services than ever.

Uber One membership surges

Uber One, their monthly subscription, is on fire—membership jumped 60% in a year to over 36 million by June 2024.
These loyal users are seriously valuable, bringing in over three times the profit of regular riders.
A May promo alone added half a million new signups and got people booking across different Uber services.

Uber's latest numbers and future plans

Uber's latest numbers look strong: Q2 bookings climbed 18%, delivery orders shot up 25%, and profits rose sharply.
Plus, Uber is teaming up with more than 20 companies—including Lucid and Nuro—to push ahead with self-driving tech for what's next.