Uber Technologies, Inc. reported strong first quarter results on May 6, 2026. The company’s gross bookings reached $53.72 billion, a 25% increase year over year. Despite a challenging economic environment, Uber also issued optimistic guidance for the second quarter.
As of early Tuesday, Uber’s revenue for Q1 came in at $13.20 billion, marking a 14% rise from the previous year. The adjusted earnings per share (EPS) of $0.72 exceeded analysts’ expectations of $0.71.
Within hours of the earnings release, Uber’s stock jumped over 7% in early trading. This surge reflects investor confidence following the announcement of 3.6 billion trips taken during the quarter—a 20% increase compared to last year.
Key performance indicators:
- Gross bookings: $53.72 billion (up 25% year over year)
- Revenue: $13.20 billion (up 14% year over year)
- Adjusted EPS: $0.72 (expected $0.71)
- Trips: 3.6 billion (up 20% year over year)
Uber’s delivery segment also performed well, recording a revenue growth of 34%, totaling $5.07 billion. Meanwhile, its mobility business sales rose to $6.8 billion—a modest increase of 5% from a year earlier.
Dara Khosrowshahi, Uber’s CEO, stated that “Uber is off to an exceptional start in 2026.” He acknowledged the complex macro backdrop but highlighted that gross bookings and non-GAAP EPS were at or above the high end of their guidance.
However, Uber reported a net income drop to $263 million from $1.78 billion a year earlier due to equity investment revaluations—an unexpected setback for investors.
The company plans to purchase 10,000 Rivian R2 robotaxis by 2030, with an option for an additional 40,000 units, signaling its commitment to expanding its autonomous vehicle fleet.
