On May 6, 2026, Uber Technologies, Inc. (NYSE: UBER) announced its financial results for the first quarter ended March 31, 2026, showcasing a robust performance driven by impressive growth in both its Mobility and Delivery segments.

1. A Strong Start to 2026

Uber's CEO, Dara Khosrowshahi, expressed enthusiasm about the company's direction, stating, “As we highlighted at GO-GET, from innovative travel integrations to new ways to shop, we’re continuing to deepen the role Uber plays in daily life." He highlighted the achievement of reaching 50 million Uber One members, who now account for half of the company’s Gross Bookings across Mobility and Delivery.

CFO Balaji Krishnamurthy noted that the first quarter of 2026 marked an exceptional start for the company, with Gross Bookings growth surpassing 21% for the third consecutive quarter. He added that earnings were scaling at more than twice the company's topline growth, emphasizing Uber’s commitment to investing in significant opportunities while maintaining a capital-efficient approach to autonomous vehicles (AVs) and embracing artificial intelligence (AI) to drive further growth and productivity.

2. Financial Highlights for Q1 2026

Uber's financial performance in the first quarter reflects substantial growth across key metrics:

Gross Bookings increased by 25% year-over-year (YoY) to $53.7 billion, with a constant currency growth of 21%.

Revenue rose 14% YoY to $13.2 billion, despite business model changes negatively impacting total revenue growth by 9 percentage points.

GAAP Income from Operations surged 57% YoY to $1.9 billion.

GAAP Net Income attributable to Uber was reported at $263 million, significantly impacted by a $1.5 billion pre-tax headwind from revaluations of equity investments.

Adjusted EBITDA increased by 33% YoY to $2.5 billion, with an adjusted EBITDA margin of 4.6%, up from 4.4% in Q1 2025.

Non-GAAP Net Income grew 39% YoY to $1.5 billion, with Non-GAAP EPS rising 44% YoY to $0.72.

Additionally, net cash provided by operating activities was $2.4 billion, with free cash flow reaching $2.3 billion. By the end of the first quarter, Uber held $6.1 billion in unrestricted cash, cash equivalents, and short-term investments.

3. Performance by Segment

Uber's performance by segment further highlights the company’s growth trajectory:

Mobility gross bookings grew 25% YoY to $26.4 billion, while revenue increased by 5% YoY to $6.8 billion.

Delivery gross bookings rose 28% YoY to $26.0 billion, with revenue up 34% YoY to $5.1 billion.

Freight also saw a modest increase, with gross bookings reaching $1.3 billion, marking a 6% YoY growth.

4. Outlook for Q2 2026

Looking ahead, Uber anticipates continued growth in the second quarter of 2026, projecting Gross Bookings of between $56.25 billion and $57.75 billion, which represents a YoY growth of 18% to 22% on a constant-currency basis. The company expects Non-GAAP EPS to range between $0.78 and $0.82, indicating a growth of 31% to 38% YoY.

5. Conclusion

Uber Technologies Inc. has showcased a strong performance in Q1 2026, marked by substantial growth in both Mobility and Delivery segments, and a strategic focus on enhancing the user experience through technology and membership programs. With a solid financial foundation and optimistic outlook for the upcoming quarter, Uber continues to position itself as a leading player in the evolving landscape of transportation and delivery services.

Original press release