Uber Posts $394M Net Income in Q2

Uber reported a net income of $394 million for the second quarter, compared to a net loss in the same quarter last year. Adjusted EBITDA increased by 152% year over year, and gross bookings reached $33.6 billion, up 16% year over year. For the third quarter of 2023, Uber expects to report gross bookings between $34 billion to $35 billion and an adjusted EBITDA of $975 million to $1.025 billion, ahead of analysts' expectations. The mobility segment saw strong performance with $16.73 billion in gross bookings, while the delivery segment reported $15.60 billion. Uber's monthly active platform consumers reached 137 million, up 12% year over year, and the platform completed 2.3 billion trips during the quarter, up 22% year over year.