Earnings · $UBER
Uber Posts Nearly $60 Billion in Quarterly Gross Bookings and Guides Fourth Quarter to Up to $65.25 Billion
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Adjusted earnings beat estimates and shares rose in early trading, though the bookings outlook midpoint was a hair under consensus.
By Emmanuel Cruz ·
Uber Technologies reported third-quarter results on Wednesday that showed gross bookings growing 20% to $59.8 billion, and gave a fourth-quarter outlook that analysts viewed as broadly in line with expectations. The stock rose by more than 3% in early U.S. trading, according to Investing.com [2].
The company said gross bookings, the total value of rides, deliveries and freight on its platform, rose 20% from a year earlier both as reported and in constant currency. Mobility bookings were $29.5 billion, up 18%. Delivery reached $28.5 billion, up 22%, and Freight $1.8 billion, up 35% [1]. Trips totaled 4.1 billion, up 16%, and monthly active platform consumers rose 14% to 215 million [1].
Revenue was $14.8 billion, up 10%. Uber said changes in how some of its business models are accounted for reduced reported revenue growth by 8 percentage points [1]. Investing.com said that revenue topped a consensus of $14.67 billion and that adjusted earnings per share of $0.88 were ahead of the $0.86 analysts expected [2]. On gross bookings, William Blair analysts described the result as "roughly in line with the midpoint of consensus" [2].
Profit measures showed strong operating momentum but a messy bottom line. Income from operations under generally accepted accounting principles was $1.4 billion, up 30%, and non-GAAP operating income was $2.3 billion, up 38%, equal to 3.9% of gross bookings [1]. GAAP net income attributable to Uber was $512 million, down 92%, and diluted GAAP earnings per share were $0.25 against $3.11 a year earlier. Uber said the current figure includes a $476 million pre-tax loss from revaluing equity investments, while the prior-year number was lifted by a $4.9 billion tax valuation release [1]. Non-GAAP net income rose 29% to $1.8 billion [1].
Cash generation remained solid. Free cash flow was $2.5 billion, up 14%, and the company ended the quarter with $10.1 billion of unrestricted cash, cash equivalents and short-term investments [1]. Uber repurchased $750 million of stock in the quarter, down from $1.46 billion a year earlier, bringing nine-month buybacks to $4.28 billion [1]. Chief Executive Dara Khosrowshahi pointed to "record audience and consumer engagement" in the company's release [1].
For the fourth quarter, Uber guided to gross bookings of $63.25 billion to $65.25 billion, or 18% to 22% growth in constant currency, assuming about a one-point currency headwind. It forecast adjusted EBITDA of $3.13 billion to $3.23 billion and non-GAAP earnings per share of $0.95 to $0.99 [1]. Investing.com calculated that the bookings midpoint of $64.25 billion sat slightly below the $64.29 billion analysts had modeled, while the EBITDA midpoint of $3.18 billion was above the $3.15 billion estimate [2].
Uber also flagged the war in the Middle East as a drag on its mobility business. Investing.com reported that the conflict took 75 basis points off third-quarter mobility bookings growth, and that the company's fourth-quarter outlook assumes a 100 basis point hit [2]. That makes geopolitics a variable for the guidance, alongside consumer demand and driver supply.
Investors are likely to focus on three things in the coming days: whether the early gain holds as the broader market digests the midterm results, how management describes delivery and autonomous-vehicle investment on its earnings call, and whether the slight bookings shortfall at the guidance midpoint is read as conservatism or a sign of slowing momentum.
Sources:
[1] Uber Technologies, "Uber Announces Results for Third Quarter 2026", November 4, 2026. https://investor.uber.com/news-events/news/press-release-details/2026/Uber-Announces-Results-for-Third-Quarter-2026/default.aspx
[2] Investing.com, "Uber Q3 profit, revenue beat estimates as gross bookings jump 20%", November 4, 2026. https://www.investing.com/news/earnings/uber-q3-profit-revenue-beat-estimates-as-gross-bookings-jump-20-4998819
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.