Uber Technologies (UBER) Q2 2026 earnings summary

Executive summary

• Gross Bookings exceeded $58 billion in Q2 2026, up 22% year-over-year, with record highs in MAPCs, trip frequency, and engagement, marking the fourth consecutive quarter above 20% growth.

• Revenue rose 12% year-over-year to $14.2 billion, driven by 18% growth in trips and 16% growth in MAPCs, with broad-based gains across Mobility, Delivery, and Freight.

• Net income attributable to shareholders was $2.4 billion, up 77% year-over-year, including a $1.6 billion pre-tax gain from equity investment revaluations; diluted EPS was $1.17, up 85% year-over-year.

• Non-GAAP EPS grew 35% year-over-year to $0.81; trailing twelve-month free cash flow surpassed $10 billion for the first time.

• Announced agreement to acquire Delivery Hero, expanding reach to nearly 100 markets and nearly doubling markets with both Mobility and Delivery.

Financial highlights

• Gross Bookings reached $58.0 billion (+22% YoY); revenue was $14.2 billion (+12% YoY), with business model changes reducing reported growth by 8 percentage points.

• Non-GAAP Operating Income rose 40% YoY to $2.1 billion (3.7% of Gross Bookings); Adjusted EBITDA was $2.8 billion, up 33% YoY.

• Free cash flow for Q2 2026 was $2.8 billion, with trailing twelve-month free cash flow at $10.1 billion.

• GAAP Net Income was $2.4 billion, including a $1.6 billion pre-tax gain from equity investment revaluations.

• Mobility operating income margin was 7.6%; Delivery segment operating income margin was 3.8%.

Outlook and guidance

• Q3 2026 Gross Bookings expected at $58.25–60.25 billion, 18–22% YoY growth on a constant-currency basis.

• Q3 Non-GAAP EPS expected at $0.84–0.88, up 28–35% YoY; Adjusted EBITDA guidance of $2.86–2.96 billion.

• Integration of Delivery Hero expected to close in H2 2027, with primary migrations in 2029.

• Full-year 2026 stock-based compensation expected at $1.95–2.10 billion; Non-GAAP depreciation and amortization at $450–550 million.

• Forward-looking statements highlight risks from competition, regulatory changes, macroeconomic factors, and currency headwinds.