Uber Technologies, Inc. Shs -CAD hedged- Canadian Depositary Receipt Repr Shs Reg S (UBER) Q2 2026 Earnings Report
TSE:UBER Q2 2026 EPS Results
- Actual EPS
- CAD 1.62
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- CAD 0.87
TSE:UBER Q2 2026 Revenue Results
- Actual Revenue
- CAD 19.65B
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +12.14%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/05/2026
- Time
- Before Open
- Conference Call
- Wednesday, August 5, 2026
TSE:UBER Upcoming Earnings
Uber Technologies, Inc. Shs -CAD hedged- Canadian Depositary Receipt Repr Shs Reg S's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by record gross bookings, 35% non-GAAP EPS growth, more than $10 billion in trailing 12-month free cash flow, accelerating U.S. mobility, strong organic delivery trends, AI productivity gains and expanding AV partnerships. The company also acknowledged Brazil mobility softness, higher two-wheeler supply costs, reported delivery-growth comparison headwinds, a mobility revenue-margin decline and regulatory and commercialization challenges for AVs. Highlights significantly outweighed the lowlights.
Company Guidance
Management said it expects the U.S. to accelerate through this year and held its expectation for the remainder of the year; Uber is live in 7 cities and on track to be live in 15 cities by year-end, expects more launches in 2027, perhaps San Francisco and Miami in 2028 for Rivian, and L.A. and San Francisco in 2027 and then 28 different cities globally by '28 for another partner. AV utilization is often mid- to high 20s, low 30s in trips per vehicle per day, with 120,000 vehicle commitments to deliver over the next few years; Delivery Hero integration is planned for 2028 before primary migrations in 2029, assuming closing in the second half of 2027; Uber has said it wants to deploy about 50% of free cash flows toward buybacks, has bought back about $3.5 billion this year, deployed about $4 billion in the second quarter, and is rebuilding repurchases over months, not quarters, while Q3 delivery should show relatively healthy trends.
- Record Gross Bookings and Cash GenerationQ2 gross bookings grew 22% year-over-year to more than $58 billion, above the high end of guidance and marking the fourth consecutive quarter of growth above 20%. Non-GAAP EPS grew 35% year-over-year, and trailing 12-month free cash flow exceeded $10 billion for the first time in Uber's history.
- Delivery Hero Acquisition Expands Global ReachUber's announced agreement to acquire Delivery Hero is expected to expand its reach to nearly 100 markets and roughly double the number of markets where it can offer the full platform across mobility and delivery. Uber said the deal is intended to bring its technology and Uber One to millions more people and create significant long-term shareholder value.
- Autonomous Vehicle Network ExpansionUber is live with autonomous vehicle services in 7 cities and is on track to be live in 15 cities by year-end. Planned or expected launches include Nuro and Lucid in the Bay Area, Zoox in Las Vegas, Wayve and Baidu in London, Wayve in Tokyo, and Pony and Verne in Zagreb, with additional partner launches expected in 2027 and beyond.
- AV Utilization and Commercialization FocusUber said vehicles launched with its built-in demand can achieve significant utilization, often in the mid- to high 20s or low 30s in trips per vehicle per day. The company is focused on launch execution, service quality, vehicle utilization, data collection and commercialization economics.
- Continued Investment in the AV EcosystemUber described approximately $10 billion of AV investment over a multiyear period, including equity investments in software partners and selective balance-sheet support for fleet operations, real estate and OEM offtake commitments. For every dollar Uber has invested, its partners have raised an additional $2.50 from other investors. Uber is also pursuing third-party financial sponsors to help fund the ecosystem.
- AV Labs to Accelerate Partner DevelopmentUber is building hundreds of vehicles with robotaxi-grade sensors to collect high-fidelity, rideshare-specific data for end-to-end AV models. The company intends to provide this data to its partners to accelerate development and training across the AV ecosystem.
- U.S. Mobility AccelerationU.S. mobility trips and gross bookings accelerated in Q2, consistent with Uber's expectation that the U.S. business would accelerate through the year. Insurance is becoming a tailwind, with savings being reinvested into the market; in California, particularly Los Angeles and San Francisco, trip growth meaningfully outpaced the rest of the country.
- Product Innovation Driving U.S. MobilityUber reported strong traction from premium and affordable products, including Reserve, U4B, Black, Wait & Save and other offerings. U4B grew 40% year-over-year, while Uber Health was growing even faster.
- Sparse Markets Remain a Growth OpportunityIn U.S. sparse markets, less than 10% of eligible consumers had used Uber in the past 12 months, compared with more than 50% in dense markets. Uber is investing in supply, reliability, marketing, awareness and trial, and said mobility and delivery are growing significantly faster in sparse markets while margins remain healthy.
- Record First-Time User MomentumUber reported record first-time users over at least the past couple of years. Management attributed the momentum to lower-cost products, sparse-market expansion, cross-platform usage and new products such as Women Preferred, Uber Teens and U4B.
- Cross-Platform Engagement GrowthOnly 20% of Uber consumers currently use both Rides and Eats, but those cross-platform users are growing 1.5 times faster than single-product users. Uber said movement between Rides and Eats is occurring in both directions globally and in the U.S.
- Strong AV-Market Operating TrendsTrip growth in San Francisco, Los Angeles and Phoenix accelerated in Q2 versus Q1, and Uber's category position in those markets was higher than a year ago. Uber also said AV services are doing hundreds of thousands of trips per week.
- AI Productivity GainsNear 100% of Uber engineers are using AI-based coding tools, and Uber is currently seeing a doubling in code output per engineer. Management said these productivity gains have allowed it to moderate the pace of headcount additions, while AI investments are also being made in customer support and marketing.
- Organizational Efficiency MeasuresUber said it surgically reduced headcount by about 10% to 20% in a couple of organizations during the quarter, generating savings that were described as modest in the overall context of the company. The company intends to reinvest savings where appropriate into its marketplaces and customer value.
- Stable Underlying Take Rate and Strong Mobility MarginAlthough reported mobility revenue margin declined nearly 500 basis points year-over-year, approximately 400 basis points were attributed to a U.K. business-model change that shifted costs from cost of revenue and created an optical impact. Management said the net take rate disclosed in the 10-Q remained broadly stable, while mobility operating income margin remained strong at 7.6%.
- AI-Enabled Consumer Experience ImprovementsUber said AI-built Cart Builder carts are often twice the size of non-AI-built carts. AI is also being used for personalization, targeted advertising, restaurant ranking, deal ranking and inventory recommendations. Approximately three-quarters of Uber rides occur through personalized destination suggestions.
- Share Repurchases Expected to RebuildUber has historically targeted deploying about 50% of free cash flow toward buybacks and repurchased approximately $3.5 billion of stock year-to-date. After deploying about $4 billion in Q2 to purchase Delivery Hero stock, management said it is steadily rebuilding share repurchase levels over months rather than quarters.
- Organic Delivery Growth AcceleratingUber said its organic delivery business is accelerating, with very strong trends in the U.S. and internationally and gains in category position across all large markets. The company described the expected third-quarter delivery trends as relatively healthy.
- Delivery Hero Integration PlanUber said it has high confidence in its Delivery Hero integration plan, including migration to Uber's global technology platform, a proven integration playbook and disciplined underwriting of synergies. Assuming closing in the second half of 2027, Uber expects to spend 2028 on planning and development and execute primary migrations in 2029.
- Waymo Partnership Remains Strong While Uber DiversifiesUber said Waymo remains an important partner and that operations in Austin and Atlanta are expected to continue next year. Uber is also adding other AV partners so that it is not dependent on a single partner.
TSE:UBER Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 04, 2026 | 2026 (Q3) | ―- | 4.29 | ― | ― |
| Aug 05, 2026 | 2026 (Q2) | ―1.62 | 0.87 | 84.90% (+0.74) | |
| May 06, 2026 | 2026 (Q1) | ―0.17 | 1.2 | -85.50% (-1.03) | |
| Feb 11, 2026 | 2025 (Q4) | ―0.20 | 4.49 | -95.59% (-4.30) | |
| Nov 04, 2025 | 2025 (Q3) | ―4.29 | 1.65 | 159.19% (+2.63) | |
| Aug 06, 2025 | 2025 (Q2) | ―0.87 | 0.65 | 35.29% (+0.23) | |
| May 07, 2025 | 2025 (Q1) | ―1.20 | -0.42 | 383.02% (+1.62) | |
| Feb 05, 2025 | 2024 (Q4) | ―4.49 | 0.92 | 390.08% (+3.58) | |
| Oct 31, 2024 | 2024 (Q3) | ―1.65 | 0.13 | 1153.03% (+1.52) | |
| Aug 06, 2024 | 2024 (Q2) | ―0.65 | 0.25 | 162.60% (+0.40) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
