Uber (UBER) 2026 Q1 earnings
CNBC • • business
Key Points:
- Uber's first-quarter revenue of $13.2 billion slightly missed Wall Street estimates, and earnings per share were reported at 13 cents versus the expected 70 cents, mainly due to a $1.5 billion net income hit from revaluation of equity investments.
- The company's delivery segment showed strong growth with a 34% revenue increase to $5.07 billion, surpassing analyst estimates, driven by robust demand in markets like Australia, Japan, and the U.K.
- Uber's mobility business underperformed, with revenue rising 5% to $6.8 billion, below the $7.11 billion expected, impacted by factors including weather disruptions, geopolitical tensions, and rising U.S. gas prices affecting drivers.
- Gross bookings grew 25% to $53.7 billion, beating estimates, and the company issued second-quarter bookings guidance of $56.25 billion to $57.75 billion, exceeding analyst expectations.
- Uber is advancing its autonomous vehicle initiatives by partnering with companies like Waymo and investing in AI to boost engineering productivity and customer personalization, aiming to expand robotaxi services to 15 cities by 2026.
