On Tuesday, Uber Technologies (NYSE:UBER) reported its second quarter results that surpassed Wall Street estimates. In addition, Uber recorded a sixfold increase in autonomous rides through its collaborations with 10 partners that span across different segments. 

Second quarter highlights

For the quarter ended on June 30th, Uber reported revenue grew 16% YoY to $10.7 billion, surpassing LSEG’s consensus estimate of $10.57 billion. 

Gross bookings of the mobility unit increased 23% to $20.6 billion while the delivery unit reported that gross bookings rose 16% to $18.1 billion, with the freight unit remaining flat at $1.27 billion.

With 156 million monthly active platform consumers, 2.77 billion trips being made via Uber's platform, rising from last year’s comparable quarter when Uber recorded 137 million MAPCs and 2.28 billion trips.

Including a $333 million pretax benefit from revaluations of equity investments, net income for the quarter amounted to $1.02 billion.

Third quarter guidance

Uber guided for bookings in the range from $40.25 billion to $41.75 billion, with StreetAccount’s average estimate of $41.18 billion being within that range but below midpoint. Adjusted earnings outlook is between $1.58 billion and $1.68 billion, with the middle of the range being just above the $1.62 billion average analyst estimate.

Partnerships with Instacart and BYD

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