Uber Stock Soars Following Q1 Earnings Beat and Promising Q2 Outlook

Key Takeaways

• Uber reported an adjusted EPS of $0.72, surpassing the $0.69 forecast by analysts.
• Gross bookings increased by 21% to reach $53.7 billion, exceeding the anticipated $52.8 billion.
• Revenue climbed 14% to $13.2 billion, falling slightly short of the $13.28 billion Wall Street projection.
• Total trips rose 20% year-over-year to 3.64 billion, while monthly active users saw a 17% increase.
• Following the release of these results, UBER shares climbed 8.7% during premarket trading.

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(SeaPRwire) –   Shares of Uber rose 8.7% in Wednesday’s premarket session after the company delivered first-quarter earnings and gross bookings growth that outperformed expectations.

Uber Technologies, Inc., UBER

The company reported an adjusted EPS of $0.72, an improvement from the $0.50 recorded in the same period last year and higher than the $0.69 consensus estimate. Revenue grew 14% to $13.2 billion, narrowly missing the $13.28 billion target set by Wall Street.

Gross bookings were a standout metric, surging 21% to $53.7 billion, significantly higher than the $52.8 billion analysts had predicted.

$UBER Q1’26 EARNINGS HIGHLIGHTS

Revenue: $13.2B (Est. $13.31B) ; +14% YoY
Adj EPS: $0.72 (Est. $0.70) ; +44% YoY
Gross Bookings: $53.7B; +25% YoY, +21% CC
Trips: 3.6B; +20% YoY

Q2’26 Guide:
Adjusted EBITDA: $2.70B-$2.80B (Est. $2.68B)
Gross Bookings:… pic.twitter.com/yzkzOf4XVn

— Wall St Engine (@wallstengine) May 6, 2026

Entering this report, UBER shares had declined 11% year-to-date, leaving investors eager for positive news.

Conversely, reported net profit fell to $263 million, or $0.13 per share, down from $1.78 billion in the previous year. This decline was primarily driven by a $1.5 billion impact from the revaluation of equity investments.

CEO Dara Khosrowshahi noted that the quarter faced a challenging environment characterized by geopolitical instability, elevated fuel costs, and adverse weather. Nevertheless, the core business remained resilient.

Trips increased 20% year-over-year to 3.64 billion, and monthly active platform users grew by 17%. Both the mobility and delivery divisions contributed to this expansion, with growth distributed across various geographic regions rather than concentrated in one area.

Freight Returns to Growth

A notable, albeit quieter, development was the return to growth for Uber Freight for the first time in nearly two years, which Khosrowshahi highlighted as a promising early indicator.

While not a major financial driver at this stage, it eliminates a previous burden on the company’s performance.

Regarding AI and autonomous vehicles, Uber introduced an AI assistant for drivers and revealed 10 new or expanded partnerships in the autonomous vehicle space during the quarter. These initiatives represent long-term strategic investments rather than immediate sources of revenue.

Q2 Guidance Exceeds Estimates

For the second quarter, Uber projects an adjusted EPS between $0.78 and $0.82, with the lower end of the range aligning with analyst forecasts.

The company anticipates gross bookings for Q2 to be between $56.25 billion and $57.75 billion, surpassing the $56.17 billion modeled by Wall Street.

This guidance indicates that management expects the momentum observed in the first quarter to persist into the next.

Other details highlighted in the report included the resurgence of the freight unit and the establishment of 10 new autonomous vehicle partnerships.