Uber Q1 2026: Gross Bookings Hit $53.7B, Adjusted EPS Surges 44%
Uber reported Q1 2026 gross bookings of $53.7 billion, up 25% year-over-year, beating market expectations. Net income declined due to non-cash investment valuation losses, but adjusted operating income jumped 42%. Q2 gross bookings are projected at up to $57.75 billion.
- Uber delivered Q1 2026 gross bookings of $53.7B, up 25% YoY, with adjusted EPS surging 44% to $0.72, beating expectations
- Stock jumped 8.3% intraday but closed down 1.33% as of May 6, with Q2 guidance pointing to continued strong growth
According to SEC 8-K filing, Uber posted Q1 2026 gross bookings of $53.7 billion, demonstrating growth that exceeded market consensus.
📊 Price at article publication (May 6, 2026, 21:01 KST)
$72.95 ▼ -1.33%
~₩105,632 (FX rate 1448)
Q1 Results at a Glance
Uber's Q1 revenue reached $13.2 billion, up 14% year-over-year. However, net income came in at $263 million due to a non-cash valuation loss of $1.5 billion on equity holdings (no actual sale occurred). Excluding this mark-to-market adjustment, adjusted profitability improved significantly.
- Revenue: $13.2 billion, +14% YoY
- Gross Bookings (total customer spend): $53.7 billion, +25% YoY
- GAAP EPS: $0.13 vs. $0.83 prior year — impacted by $1.5B non-cash investment mark-down
- Adjusted EPS: $0.72, +44% YoY
- GAAP Operating Income: $1.923 billion, +57% YoY
- Adjusted Operating Income (EBITDA basis): $2.481 billion, +33% YoY
- Operating Cash Flow: $2.351 billion
- Free Cash Flow (after capex): $2.286 billion
- Cash & Short-term Investments: $6.1 billion
Q2 Outlook
Uber projects Q2 2026 gross bookings of $56.25 billion to $57.75 billion, representing 18–22% constant-currency growth year-over-year. Adjusted EPS is guided at $0.78–$0.82, implying 31–38% growth versus the prior year quarter. CFO Balaaji Krishnamurthy noted that gross bookings have grown 21%+ for three consecutive quarters, with earnings growth exceeding revenue growth by more than 2x.
Market Reaction
Uber shares surged 8.3% intraday following the earnings release, driven by beats on adjusted EPS and gross bookings, though some reports noted revenue came in slightly below consensus. As of May 6, 2026 at 21:01 KST, shares traded at $72.95, down 1.33% from the previous close. CEO Dara Khosrowshahi highlighted that Uber One membership exceeded 50 million subscribers, who now account for approximately half of mobility and delivery gross bookings.
Segment Performance
- Mobility: Gross bookings $26.4 billion (+25% YoY) / Revenue $6.8 billion (+5%) / Segment operating income $2.029 billion (+28%)
- Delivery: Gross bookings $26.0 billion (+28% YoY) / Revenue $5.07 billion (+34%) / Segment operating income $961 million (+43%)
- Freight: Gross bookings $1.334 billion (+6% YoY) / Revenue $1.337 billion (+6%) / Segment operating loss $30 million (vs. $25M loss prior year)
This article was auto-generated from the SEC 8-K filing and external news sources to provide rapid dissemination of key financial data. Investors are encouraged to review official company disclosures before making trading decisions. Prices reflect the time of publication and may differ from current levels.
UBERFrequently Asked Questions
What is 'gross bookings' and how does it differ from revenue?
Gross bookings represent the total value of customer transactions processed through Uber's platform, while revenue is the commission and fees Uber retains. For example, if a customer spends $20 on a ride, gross bookings = $20, but Uber's revenue is only its take rate (typically 15-25% of that amount).
Why did net income drop if adjusted profits soared 40%+?
Net income fell primarily due to a non-cash, mark-to-market loss of $1.5 billion on equity holdings in other companies. This is an accounting valuation adjustment, not an actual realized loss. Excluding this impact, adjusted operating income and EPS grew over 30% and 44% respectively, reflecting genuine operational strength.
What is the significance of 50 million Uber One members?
Uber One is a subscription service offering discounts and perks. Subscription membership provides recurring, predictable revenue and drives higher engagement and frequency. Management disclosed these 50M+ subscribers now generate half of all mobility and delivery gross bookings, indicating strong customer stickiness.
What are the key Q2 2026 guidance metrics?
Uber projects Q2 gross bookings of $56.25B–$57.75B (18–22% constant-currency growth) and adjusted EPS of $0.78–$0.82 (31–38% growth). These are management's forward-looking estimates and actual results may differ.
Which segment is growing fastest?
Delivery posted the strongest growth momentum, with gross bookings up 28% and revenue up 34% YoY. Operating income surged 43%. Mobility remained the largest segment by bookings ($26.4B) and continues solid expansion at 25% growth, while Freight remains a small, loss-making division.
Why did Uber shares rise 8.3% then fall?
Shares jumped 8.3% immediately post-earnings on beats for adjusted EPS and gross bookings. However, some market observers noted revenue came in slightly below consensus, and profit-taking likely occurred as the stock settled into a lower close, down 1.33% by day end.
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