Uber missed earnings and revenue estimates last quarter, but shares spiked 8.5% after it issued high bookings guidance.
Earnings per share (EPS) dropped 85% year-over-year to US$0.13, under LSEG-compiled estimates of $0.70. Revenue increased 14% to $13.20 billion, below estimates of $13.29 billion.
“Uber is off to an exceptional start in 2026, with Gross Bookings and Non-GAAP earnings per share (EPS) at or above the high end of our guidance, despite a complex macro backdrop marked by weather disruptions, geopolitical tensions, and gas price volatility," said CEO Dara Khosrowshahi on an earnings call.
Trips increased 20% to 3.6 billion last quarter. Its monthly active platform consumers rose 17% to 170 million, and its Uber One membership tier reached 50 million users.
Mobility revenue fell short of expectations, however, increasing 5% to $6.80 billion. This is below StreetAccount estimates of $7.11 billion.
Revenue for its delivery business was up 34% to $5.07 billion, beating estimates of $4.89 billion.
Gross bookings also grew 25% to $42.82 billion. Uber’s outlook for the next quarter includes gross bookings of $56.25-27.75 billion, well above estimates of $56.17 billion.
The company credited the decline in earnings to a $1.5 billion hit from revaluations of its equity investments. It had received a $51 million benefit from revaluations one year ago.
Meanwhile, its operating income surged 42% to $1.88 billion.
Shares in Uber (NYSE: UBER) closed 8.5% higher at $79.17, and remained unchanged after-hours. Its market capitalisation is $161.26 billion.
