Uber posted an 18% increase in second-quarter revenue to $12.65 billion and announced a $20 billion share buyback program.

In the second quarter, Uber reported revenue of $12.65 billion, with a net profit of $1.36 billion, beating analyst estimates. The company logged 3.3 billion rides and 180 million monthly active users. CEO Dara Khosrowshahi emphasized that there are no signs of weakness in consumer spending, and Uber continues to innovate, launching features like Senior Accounts and options for women. Uber is also focusing on developing artificial intelligence and autonomous vehicles, expanding its partnerships, including with Waymo.