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Uber Technologies (NYSE:UBER) said demand is consistent as the ad business is on track to exceed targets.
Shares rose 1% on Thursday afternoon.
Shareholders should also expect a buyback in the next couple of years, Chief Executive Officer Dara Khosrowshahi said at a Goldman Sachs event in San Francisco.
Delivery growth in the second-half is expected to be at least 14%.
UBER is in a strong supply position amid demand that has been consistent for the peak season, the CEO said.
The ride-hailing app is on track to exceed a 2024 $1B target in ad spending, with opportunities for small-and-medium sized businesses, enterprise, packaged goods and grocery in-journey ads.
Shareholders should expect return in form of buybacks in the next couple of years as business should generate substantial cash for the foreseeable future, Bloomberg reported.
UBER is up 83% year-to-date.