Uber (UBER) Q3 2026 earnings

Uber reported income for the third quarter that topped analysts’ estimates, however the firm missed expectations in its two key companies. Shares of the ride-hailing service rose greater than 7% on Wednesday.

This is how the corporate did versus analysts’ estimates compiled by LSEG:

• Earnings per share: 25 cents vs. 96 cents anticipated
• Income: $14.77 billion vs. $14.69 billion anticipated

Income elevated 10% from $13.47 billion a 12 months earlier. The corporate reported internet revenue of $512 million, down 92% from a 12 months earlier, when the corporate had a $4.9 billion profit from a tax valuation launch.

Uber’s core mobility unit, which is its ride-hailing service, noticed a 2% decline in income to $7.52 billion, lacking the common estimate of $7.71 billion, based on StreetAccount. Income within the meals supply enterprise elevated 23% to $5.49 billion, trailing the $5.51 billion common estimate.

Whole bookings of $59.82 billion had been about according to the $59.83 billion common analyst estimate, based on StreetAccount.

Uber’s income beat was as a consequence of progress in its freight division. Gross sales jumped 34% to $1.76 billion, topping the StreetAccount consensus of $1.49 billion,

Uber CEO Dara Khosrowshahi mentioned, in ready remarks forward of a scheduled name, that the corporate’s core mobility section carried out barely under expectations abroad.

“Elevated gasoline costs and tighter driver availability weighed on provide progress in a number of worldwide markets,” he mentioned, including that Uber is making “focused investments to strengthen driver provide.”

In a CNBC interview, Khosrowshahi emphasised that Uber has “extra demand” than provide, particularly for its mobility providers.

“We do not need to elevate costs on our clients,” he mentioned, including that the corporate can also be doing what it could actually to keep away from longer wait occasions. Uber is “investing considerably” in bringing extra drivers on board in India, Brazil, and the U.S. to fulfill demand, he mentioned.

Uber has additionally dedicated about $10 billion in capital to deliver extra driverless automobiles to its platform, the CEO mentioned, via an array of partnerships and investments in corporations together with Rivian, Nuro, AVRide and others growing robotaxis and driverless vehicles.

Close to-term, Uber plans to have over 2,000 automated automobiles obtainable on its platform by the top of 2027, half working within the U.S. and half internationally. It expects to have round 700 obtainable on its platform by the top of the 12 months, including Amazon’s Zoox and Motional robotaxis to its platform in Las Vegas this quarter.

Uber can also be rising its supply enterprise via acquisitions of Delivery Hero in Germany and ezCater within the U.S.

In its Uber Eats enterprise, a just lately expanded partnership with Costco within the U.S. is “monitoring forward of expectations,” Khosrowshahi mentioned. The corporate mentioned Costco is now considered one of its high retailers by way of gross bookings.

For the fourth quarter, Uber sees general bookings of $64.5 billion on the mid-point of its forecast, according to the common StreetAccount estimate of $64.26 billion.

WATCH: Ross Gerber on autonomous driving: On a whole, ‘I think Uber is cooked’