Uber Technologies reported second-quarter revenue of $12.65 billion, an 18% increase from a year earlier and ahead of the $12.48 billion consensus. Adjusted earnings were $0.63 a share versus 62 cents expected, while adjusted EBITDA rose to $2.12 billion. Net income surged 82% to $1.36 billion, driven by growth across both ride-hailing and delivery. Gross bookings grew 17% to $46.76 billion as the platform handled about 3.3 billion trips and monthly active consumers climbed to 180 million. Bolstered by record trailing-12-month free cash flow of $8.5 billion and $2.48 billion generated in the quarter, the board approved a new $20 billion share-repurchase program, the largest in the company’s history. Chief Financial Officer Prashanth Mahendra-Rajah said the authorization reflects “confidence in our durable, profitable growth.” For the current quarter, Uber projects gross bookings of $48.25 billion to $49.75 billion and adjusted EBITDA of $2.19 billion to $2.29 billion, both above Wall Street estimates. Management added that U.S. mobility trip growth is accelerating and that the company will continue to leverage its two-sided platform to lift engagement across Mobility and Delivery. Growth is increasingly supported by Uber One, the $9.99-a-month loyalty program whose membership expanded 60% year-on-year to more than 36 million and now accounts for roughly 40% of total gross bookings. Uber shares were down about 1% in early trading after an initial swing, but remain up nearly 50% year-to-date.