Uber Q2 2026 Earnings Miss Forecast, Shares Slide

Uber reported second-quarter net income of $2.39 billion, or $1.17 per share, up from $1.35 billion, or $0.63 per share, a year earlier. Core mobility generated $7.36 billion in sales and delivery contributed $5.25 billion. Mobility gross bookings rose 22% year-over-year to $28.99 billion, while delivery bookings jumped 26% to $27.46 billion. Total bookings reached $58 billion, slightly above the StreetAccount average estimate of $57.23 billion. However, Uber’s earnings-per-share (EPS) forecast of $0.84-$0.88 for the third quarter fell short of the LSEG average estimate of $0.89.

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CEO Dara Khosrowshahi highlighted that the recent World Cup boosted ride-hail demand, with more than 8 million tourists taking rides in U.S., Canadian, and Mexican host cities. Uber also announced a $14.8 billion agreement to acquire Germany’s Delivery Hero, expanding its food-and-grocery delivery footprint. While Uber is deepening partnerships with robotaxi providers, the source notes that early partner Waymo appears to be pulling away.

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Following the earnings release, Uber’s share price fell about 7%, contributing to a 12% decline in the stock year-to-date, even as the Nasdaq index rose roughly 14% over the same period. The third-quarter booking outlook of $59.25 billion sits marginally below the StreetAccount consensus of $59.33 billion, reinforcing investor concerns about growth momentum.

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Uber’s push into deliveries, underscored by the Delivery Hero acquisition, aims to diversify revenue beyond mobility. The sizable AV investment signals a strategic bet on scaling driverless rides, though the reported disengagement of Waymo suggests competitive challenges within the robotaxi ecosystem. Analysts will watch whether the combined effect of expanded delivery markets and autonomous-vehicle scaling can offset the modest earnings guidance and sustain shareholder confidence.

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