UBER · Uber Technologies, Inc.

Uber Technologies, Inc. announced strong financial results for the first quarter ended March 31, 2026, demonstrating continued operational leverage and platform growth. Gross Bookings increased 25% year-over-year to $53.7 billion (21% on a constant currency basis), supported by a 20% increase in Trips to 3.6 billion and a 17% rise in Monthly Active Platform Consumers to 199 million. Revenue grew 14% year-over-year to $13.2 billion, though growth was negatively impacted by 9 percentage points due to business model changes. The company achieved a record GAAP Income from operations of $1.9 billion, representing a 57% year-over-year increase, while Non-GAAP Operating Income rose 42% to $1.9 billion. Adjusted EBITDA margin expanded to 4.6% of Gross Bookings, up from 4.4% in the prior year period. GAAP Net income was significantly impacted by a $1.5 billion pre-tax headwind from revaluations of equity investments, resulting in GAAP Diluted EPS of $0.13, compared to $0.83 in Q1 2025 which included a net benefit from equity investments. Excluding these impacts, Non-GAAP Net Income grew 39% to $1.5 billion, and Non-GAAP EPS increased 44% to $0.72. The company generated $2.4 billion in operating cash flow and $2.3 billion in free cash flow during the quarter. Management highlighted the milestone of reaching 50 million Uber One members, who now drive half of Gross Bookings across Mobility and Delivery. For the second quarter of 2026, management guided for Gross Bookings of $56.25 billion to $57.75 billion and Non-GAAP EPS of $0.78 to $0.82, translating to an anticipated Adjusted EBITDA of $2.70 billion to $2.80 billion.