Uber Shares Slip After Missing Earnings and Revenue Expectations Despite Strong Outlook

Uber’s stock came under pressure after the company reported mixed first-quarter 2026 results, with weaker-than-expected earnings and revenue offset by an optimistic outlook for future bookings. The ride-hailing giant saw its shares fall about 3.1% on Thursday following the release, despite earlier gains of roughly 8% in the previous session driven by upbeat guidance.


Earnings Fall Short of Forecasts

The company reported earnings of just 13 cents per share, significantly below market expectations of around 70 cents. Revenue came in at $13.2 billion, slightly under the anticipated $13.29 billion. Although revenue grew 14% year-over-year to $13.2 billion, it still failed to fully meet Wall Street forecasts, adding to investor disappointment.


One-Time Charges Weigh on Profit

Net income was heavily impacted by a $1.5 billion revaluation loss tied to investments in Asian companies, including Grab and Didi. This pushed net profit down to $263 million, a sharp decline from $1.78 billion in the same period last year.


Delivery Strength Offsets Weak Mobility Growth

Uber’s delivery segment remained a key bright spot, with revenue jumping 34% to $5.07 billion, beating expectations and showing strong demand across major markets such as Australia, Japan, and the UK.


In contrast, the mobility (ride-hailing) segment underperformed, rising just 5% to $6.8 billion, below forecasts of $7.11 billion. The company has introduced fuel discounts and driver support programs through May to help ease cost pressures.


Strong Bookings and Positive Outlook

Despite the mixed results, Uber recorded 3.6 billion trips during the quarter. Gross bookings climbed 25% to $53.7 billion, exceeding expectations.

For the second quarter, the company expects bookings between $56.25 billion and $57.75 billion, signaling continued momentum.


Betting on AI and Autonomous Vehicles

Uber continues to invest heavily in autonomous driving and artificial intelligence. The company is expanding partnerships with multiple self-driving technology firms and aims to deploy autonomous vehicles in 15 cities by the end of 2026.


It is also increasingly relying on AI tools to improve efficiency, with the vast majority of its engineering workforce now using AI-assisted coding systems.



While short-term earnings disappointed investors, Uber’s strong booking forecasts and strategic push into autonomous mobility and AI continue to support long-term growth expectations, even amid broader economic and geopolitical uncertainties.