Lates News

Uber (UBER.N) announced better-than-expected third-quarter performance outlook and quarterly financial report on Wednesday and also announced a new $20 billion stock buyback plan. This indicates that its core ride-sharing and delivery business still has room for growth acceleration. The company stated that user frequency has increased and that by cross-selling ride-sharing and delivery services, as well as adjusting service content to meet a wider range of customer needs, they hope to reach more consumers. According to analysts' calculations, 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 (UBER.N) gave back earlier gains, which suggests that investors may be expecting more good news. Executives are expected to hold a conference call with analysts at 8 a.m.