Uber Technologies, Inc. (NYSE: UBER) shares rose Wednesday after the ride-hailing and delivery company reported first-quarter 2026 results that showed strong growth in trips, bookings and platform users, while adjusted earnings topped Wall Street estimates. Strong Q1 Revenue And Earnings Performance
Uber reported first-quarter revenue of $13.20 billion, up 14% year over year, but slightly below analyst estimates of $13.29 billion. Adjusted earnings came in at 72 cents per share, ahead of the 70-cent consensus estimate.
Trips, Users And Gross Bookings Continue To Climb
Trips during the quarter rose 20% year over year to 3.64 billion, while Monthly Active Platform Consumers increased 17% to 199 million. Gross bookings climbed 25% to $53.72 billion, or 21% on a constant-currency basis.
The company reported GAAP income from operations of $1.92 billion, up 57% from a year earlier. GAAP net income attributable to Uber fell 85% to $263 million due to a $1.5 billion headwind tied to revaluations of equity investments. Adjusted EBITDA increased 33% to $2.48 billion.
Mobility And Delivery Segments Drive Growth
By segment, Mobility revenue increased 5% to $6.80 billion, Delivery revenue jumped 34% to $5.07 billion and Freight revenue rose 6% to $1.34 billion. Mobility gross bookings grew 25% to $26.39 billion, while Delivery gross bookings increased 28% to $25.99 billion.
CEO Highlights Expansion Beyond Transportation
CEO Dara Khosrowshahi said the company is continuing to expand beyond transportation into travel and commerce offerings.
"As we highlighted at GO-GET, from innovative travel integrations to new ways to shop, we're continuing to deepen the role Uber plays in daily life," Khosrowshahi said.
Uber said Uber One membership surpassed 50 million users during the quarter, with members now accounting for half of gross bookings across Mobility and Delivery.
Autonomous Vehicle And AI Investments Accelerate
During the earnings call, management highlighted growing investments in autonomous vehicle partnerships and artificial intelligence tools aimed at improving customer engagement and cross-platform usage. Uber said it now has more than 30 autonomous vehicle partners and expects to operate in up to 15 cities by the end of 2026.
Share Buybacks And Free Cash Flow Strengthen Balance Sheet
The company also repurchased approximately $3 billion of stock during the quarter and generated $2.29 billion in free cash flow.
Issues Strong Second-Quarter Outlook
For the second quarter, Uber expects gross bookings between $56.25 billion and $57.75 billion, representing constant-currency growth of 18% to 22%. The company forecast adjusted earnings of 78 cents to 82 cents per share, compared with analyst estimates of 79 cents.
Uber Price Action
UBER Price Action: Uber Technologies shares were up 6.58% at $77.75 during premarket trading on Wednesday, according to Benzinga Pro data.