Uber Technologies, Inc. UBER used its second-quarter 2026 earnings call to emphasize durable platform growth, widening profitability and a more defined autonomous-vehicle strategy. Management also highlighted stronger U.S. mobility trends, the strongest first-time-user additions in five years and expanding cross-platform engagement.

GAAP earnings of $1.17 per share beat the Zacks Consensus Estimate of 83 cents. Revenues of $14.19 billion missed the Zacks Consensus Estimate of $14.21 billion.

Uber Technologies, Inc. Price, Consensus and EPS Surprise

Uber Technologies, Inc. Price, Consensus and EPS Surprise

Uber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Technologies, Inc. Quote

UBER Guides to Continued Bookings Growth

CFO Balaji Krishnamurthy said third-quarter gross bookings should reach $58.25 billion to $60.25 billion, representing 18% to 22% constant-currency growth. The outlook includes an approximately 1-percentage-point currency headwind to reported growth.

Non-GAAP earnings are expected at 84 cents to 88 cents per share, up 28% to 35% year over year. The range translates to adjusted EBITDA of $2.86 billion to $2.96 billion.

The outlook follows 22% constant-currency gross bookings growth in the second quarter. Trips increased 18%, while monthly active platform consumers rose 16% to 208 million.

Uber Builds an AV Commercialization Platform

CEO Dara Khosrowshahi said Uber aims to become the leading commercialization platform for autonomous vehicles rather than depend on a single technology provider. The company was live in seven cities and remained on track for 15 by year-end.

A Morgan Stanley analyst asked which milestones matter most. Khosrowshahi identified market launches, service quality, vehicle utilization and unit economics, noting that partner vehicles can complete trips at high daily utilization levels on Uber’s network.

A Bank of America analyst pressed management on Uber’s multiyear AV investment plan. Krishnamurthy said the spending includes milestone-based equity investments and selective balance-sheet support for fleet operations, real estate and vehicle commitments.

UBER Explains U.S. Mobility Acceleration

A Goldman Sachs analyst asked whether U.S. mobility gains reflected temporary World Cup demand. Krishnamurthy said the event helped as expected, but the broader acceleration came from insurance savings, product innovation and expansion in less-dense markets.

Uber is reinvesting insurance savings, particularly in California, where Los Angeles and San Francisco trip growth outpaced the country. Premium products, affordable options and Uber for Business also contributed.

Khosrowshahi said low-cost services, sparse markets, new products and cross-platform usage are attracting first-time consumers. Only 20% of customers currently use both Rides and Eats, leaving substantial room to deepen engagement.

Uber Balances Delivery Growth and Competition

Delivery gross bookings rose 25% in constant currency, while segment operating income advanced 38%. Krishnamurthy stated that the underlying delivery business accelerated in the United States and international markets.

A JPMorgan analyst asked about competition in Brazil. Khosrowshahi said that food-delivery investment by rivals raised the cost of securing two-wheeler supply, shifting some activity from mobility to delivery.

Management said Uber retained its market position and redirected incentives toward supply. Krishnamurthy also noted that acquisition comparisons will weigh on reported third-quarter delivery growth even as organic trends remain healthy.

UBER Uses AI Across Operations

A Jefferies analyst asked how Uber is controlling overhead. Krishnamurthy said near-universal adoption of AI coding tools has doubled measured code output per engineer and allowed the company to moderate hiring.

He also identified customer support and marketing as areas where AI can improve service quality and lower costs. Uber made targeted headcount reductions in selected organizations while retaining capacity to reinvest savings.

An Evercore analyst asked about consumer-facing AI. Khosrowshahi said AI-built shopping carts are often twice the size of standard carts, while personalization improves destination suggestions, product ranking, advertising and conversion.

Uber Maintains Capital and Growth Discipline

Management’s tone remained focused on converting platform growth into earnings and cash flow while funding AVs, acquisitions and product development. Trailing 12-month free cash flow exceeded $10 billion for the first time.

Krishnamurthy noted that Uber intends to rebuild share-repurchase activity over the coming months after shifting capital toward Delivery Hero. The call positioned capital allocation as a balance among strategic investment, acquisitions and continued share-count reduction.

UBER’s Zacks Signals Stay Balanced

UBER carries a Zacks Rank #3 (Hold), indicating a neutral near-term earnings-estimate revision outlook. Its Momentum Score of A, Growth Score of B and VGM Score of B are favorable, while the Value Score of C is less compelling. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Style Scores are designed to complement the Zacks Rank, with A and B grades representing stronger characteristics. The Zacks Rank can change as analysts revise estimates after the just-reported results.

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