Uber’s stock surged after reporting strong first quarter results and issuing optimistic guidance for the second quarter despite a challenging economic environment. On May 6, 2026, Uber Technologies, Inc. revealed its financial performance, which included impressive growth in gross bookings and revenue.
Key financial highlights:
- Uber’s gross bookings reached $53.72 billion, up 25% year over year.
- The company reported a revenue of $13.20 billion, a 14% increase from the previous year.
- Adjusted earnings per share (EPS) were $0.72, surpassing expectations of $0.71.
- Trips increased by 20% year over year, totaling 3.6 billion.
Following these results, Uber’s stock jumped over 7% in early trading. CEO Dara Khosrowshahi expressed confidence in the company’s trajectory. He stated, “Uber is off to an exceptional start in 2026… despite a complex macro backdrop marked by weather disruptions, geopolitical tensions, and gas price volatility.” This statement reflects the company’s resilience amid external pressures.
For the second quarter, Uber projects gross bookings between $56.25 billion and $57.75 billion, indicating an expected growth of 18% year over year. The delivery segment also showed robust performance with a revenue growth of 34%, totaling $5.07 billion.
However, not all aspects of the report were positive. Uber’s net income fell to $263 million from $1.78 billion a year earlier due to equity investment revaluations. The company owns more than 11% of Lucid Motors and has plans to purchase 10,000 Rivian R2 robotaxis, with an option for an additional 40,000 by 2030.
Despite these challenges in profitability, Uber’s mobility business sales rose by 5% from last year to $6.8 billion. The company continues to focus on premium services and expanding partnerships in the autonomous vehicle sector as part of its long-term strategy.
The market response indicates optimism about Uber’s ability to navigate a competitive landscape that includes rivals like Didi and Grab in ride-hailing and delivery services.
