Uber's performance and outlook exceed expectations, announcing a $20 billion share buyback plan.

Uber announced on Wednesday better-than-expected third-quarter performance outlook and quarterly financial report, and also announced a new $20 billion stock buyback plan. This indicates that there is still room for growth in its core ride-hailing and delivery business. The company stated that user frequency has increased, and by cross-selling ride-hailing and delivery services, as well as adjusting service content to meet broader customer needs, it is expected to reach more consumers. According to analysts, total bookings for the current quarter are expected to increase by 18% to 21%, faster than the 17% growth in the second quarter. However, in pre-market trading in New York, Uber gave back earlier gains, which seems to suggest that investors may have been expecting more positive news. Executives are expected to hold a conference call with analysts at 8:00 am.