Uber Issues Q3 Guidance; Announces $20 Bln Share Repurchase Authorization

(RTTNews) - Uber Technologies (UBER) announced, for third quarter, it anticipates adjusted EBITDA of $2.19 billion to $2.29 billion, which represents 30% to 36% year-over-year growth. The company anticipates gross bookings of $48.25 billion to $49.75 billion, representing growth of 17% to 21% on a constant currency basis. Uber also announced a new share repurchase authorization of an additional $20 billion.

Second quarter net income attributable to Uber was $1.4 billion, which included a $17 million net headwind from revaluations of Uber's equity investments. Earnings per share was $0.63 compared to $0.47, a year ago. Adjusted EBITDA grew 35% year-over-year to $2.1 billion. Revenue grew 18% to $12.7 billion, and 18% on a constant currency basis. Gross bookings grew 17% to $46.8 billion, or 18% on a constant currency basis.

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