Q2 2026 Uber Technologies, Inc. Earnings Call Transcript
Key Points
- Gross bookings grew 22% year-on-year to over $58 billion, marking the fourth consecutive quarter of above 20% growth.
- Non-GAAP EPS grew 35% year-over-year, and trailing 12-month free cash flow exceeded $10 billion for the first time.
- The acquisition of Delivery Hero will expand Uber's reach to nearly 100 markets, doubling the number of markets where it can offer both mobility and delivery services.
- Uber is on track to be live in 15 cities with autonomous vehicles by year-end, with multiple partner launches planned.
- AI-driven initiatives, such as Cart Builder, are increasing average order sizes by up to 2x, and AI coding tools have doubled code output per engineer, improving productivity.
- Brazil mobility trips saw softness due to intense competition in the food delivery space, driving up costs for two-wheeler supply.
- The UK business model change caused a 400 basis point decline in mobility take rate, which is an optical impact but affects reported revenue.
- Uber's AV investments, totaling $10 billion over multiple years, will have a P&L impact as deployments scale, though the exact timing is not yet disclosed.
- The company's relationship with Waymo is evolving, and Uber is working to reduce dependence on any single AV partner, which may create uncertainty.
- Regulatory challenges for AVs, including concerns about safety and congestion, could slow the pace of adoption and geographic expansion.
Hello and welcome to Uber's Q2 2026 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
After the speaker's remarks, there will be a question-and-answer session. And if you would like to ask a question during this time, please press 1 on your telephone keypad.
I would now like to turn the conference over to Alex Wong, Head of Investor Relations. You may begin.
Thank you, Sarah.
Thank you for joining us today, and welcome to Uber's second-quarter 2026 earnings presentation. On the call today, we have Uber's CEO, Dara Kajrashahi, and CFO, Apology Krishnamurthy.
During today's call, we will present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures, are included in the press release, supplemental slides, and our filings with the SEC, each of which is posted to investor.uber.com.
Certain statements
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
