Uber (NYSE:UBER) shares popped 4% in premarket Tuesday after the ride-sharing company offered a better-than-expected forecast for its third quarter.
For Q2, Uber reported a profit per share of $0.18, topping the market consensus that was looking for a loss per share of $0.01. The company generated $916 million in Q2 adjusted EBITDA.
Uber said gross bookings stood at $33.6 billion in Q2, including $16.73B from mobility bookings and $15.6B from delivery bookings. These two key segments saw their sales rise 25% and 12% year-over-year, respectively.
The company’s total Q2 revenue jumped 14% YoY to $9.23B, missing the $9.34B target.
“The unique power of the Uber platform and the team’s relentless focus on profitable growth was on full display in Q2, with record profitability and over $1 billion of quarterly free cash flow,” said Nelson Chai, CFO.
“I’m incredibly proud of the progress we’ve made, and Uber is well positioned to drive tremendous value for shareholders in the coming years.”
For this quarter, Uber sees gross bookings at $34.5B (up or down $500M), ahead of the consensus of $33.98B. The company expects to report adjusted EBITDA between $975M and $1.03B, much better than the average analyst estimate of $919M.