WS Investor
04 Nov 2026, 14:38
Uber Rises 2.4% as Bookings Growth, Margin Expansion and Strong Q4 Outlook Support Shares
Uber Technologies (NYSE: UBER) shares rose about 2.4% after the company reported another quarter of strong bookings growth, expanding profitability and a fourth-quarter outlook that points to continued earnings momentum.
Third-quarter Gross Bookings increased 20% year over year to $59.8 billion, marking Uber’s fifth consecutive quarter of at least 20% growth. Trips rose 16% to 4.1 billion, supported by a 14% increase in monthly active platform consumers and a 2% rise in trips per user.
Revenue increased 10% to $14.8 billion, despite an eight-percentage-point drag from business model changes. GAAP operating income rose 30% to $1.4 billion, while non-GAAP operating income increased 38% to $2.3 billion.
Profitability continued to improve. Adjusted EBITDA climbed 31% to $3.0 billion, with adjusted EBITDA margin reaching 5.0% of Gross Bookings from 4.5% a year earlier. Non-GAAP operating margin also expanded to a record 3.9% of Gross Bookings.
Non-GAAP EPS increased 35% to $0.88, while non-GAAP net income rose 29% to $1.8 billion. Free cash flow reached $2.5 billion, and Uber ended the quarter with $10.1 billion in unrestricted cash, cash equivalents and short-term investments.
The company also highlighted progress in autonomous driving. Uber expects approximately 700 fully driverless vehicles to be operating on its platform by year-end and more than 2,000 in 2027, with management shifting its focus toward commercial deployment.
For the fourth quarter, Uber expects Gross Bookings of $63.25 billion to $65.25 billion, representing 18%-22% constant-currency growth. Non-GAAP EPS is projected at $0.95-$0.99, implying 34%-39% year-over-year growth, while adjusted EBITDA is expected at $3.13 billion to $3.23 billion.
The 2.4% share gain appears to reflect continued confidence in Uber’s ability to convert strong platform growth into higher margins and earnings. The combination of sustained 20% bookings growth, record profitability metrics and a strong Q4 outlook reinforces the company’s improving operating leverage heading into 2027.
Uber Technologies (NYSE: UBER) shares rose about 2.4% after the company reported another quarter of strong bookings growth, expanding profitability and a fourth-quarter outlook that points to continued earnings momentum.
Third-quarter Gross Bookings increased 20% year over year to $59.8 billion, marking Uber’s fifth consecutive quarter of at least 20% growth. Trips rose 16% to 4.1 billion, supported by a 14% increase in monthly active platform consumers and a 2% rise in trips per user.
Revenue increased 10% to $14.8 billion, despite an eight-percentage-point drag from business model changes. GAAP operating income rose 30% to $1.4 billion, while non-GAAP operating income increased 38% to $2.3 billion.
Profitability continued to improve. Adjusted EBITDA climbed 31% to $3.0 billion, with adjusted EBITDA margin reaching 5.0% of Gross Bookings from 4.5% a year earlier. Non-GAAP operating margin also expanded to a record 3.9% of Gross Bookings.
Non-GAAP EPS increased 35% to $0.88, while non-GAAP net income rose 29% to $1.8 billion. Free cash flow reached $2.5 billion, and Uber ended the quarter with $10.1 billion in unrestricted cash, cash equivalents and short-term investments.
The company also highlighted progress in autonomous driving. Uber expects approximately 700 fully driverless vehicles to be operating on its platform by year-end and more than 2,000 in 2027, with management shifting its focus toward commercial deployment.
For the fourth quarter, Uber expects Gross Bookings of $63.25 billion to $65.25 billion, representing 18%-22% constant-currency growth. Non-GAAP EPS is projected at $0.95-$0.99, implying 34%-39% year-over-year growth, while adjusted EBITDA is expected at $3.13 billion to $3.23 billion.
The 2.4% share gain appears to reflect continued confidence in Uber’s ability to convert strong platform growth into higher margins and earnings. The combination of sustained 20% bookings growth, record profitability metrics and a strong Q4 outlook reinforces the company’s improving operating leverage heading into 2027.
