Uber Technologies forecast third-quarter adjusted earnings below Wall Street expectations on Wednesday, August 5, 2026, citing foreign exchange pressures. The ride-hailing giant also reported second-quarter gross bookings of $58.02 billion while reaffirming plans to invest heavily in autonomous vehicles and acquisitions.
Investors scrutinized the ride-hailing and delivery platform’s financial trajectory as shares of Uber Technologies declined Wednesday following second-quarter earnings that matched expectations alongside guidance that failed to impress Wall Street. The company issued a gross bookings outlook for the quarter ending in September ranging from $58.25 billion to $60.25 billion. Analysts surveyed by Bloomberg-compiled estimates had targeted an average of $59.3 billion.
Second-Quarter Bookings Performance and Global Demand Drivers
During the second quarter, total gross bookings rose 24% to $58.02 billion, surpassing the $57.06 billion estimate compiled by analysts.
Uber CEO Dara Khosrowshahi attributed part of this performance to broad-based demand across regions and services. Travel linked to the FIFA World Cup provided a notable boost, with more than 8 million tourists utilizing Uber services in host cities during the tournament.
Furthermore, the company added more first-time users over the past year than during any comparable period in the previous five years, which supported the 24% jump in gross bookings. Total revenue for the quarter rose 12% to $14.19 billion, narrowly missing expectations of $14.24 billion after an accounting change in Britain reduced reported sales growth without altering underlying economics.
Profitability Forecasts and Currency Headwinds
For the third quarter, Uber forecast adjusted earnings per share of 84 cents to 88 cents, trailing analysts’ expectations of 89 cents according to data compiled by LSEG.
Management noted that foreign exchange headwinds would trim reported third-quarter gross bookings growth by about one percentage point from last year. This currency pressure follows a preceding four-quarter stretch where foreign exchange had boosted growth.
Capital Allocation: Robotaxis and Delivery Acquisitions
Uber outlined plans to spend more than $10 billion on autonomous vehicles over the coming years, though executives did not provide a specific timeline for those deployments.
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