Uber's second-quarter results met profit expectations, but its outlook disappointed Wall Street. Revenue rose 12% year over year to $14.19 billion, gross bookings hit a record $58 billion (up 24%), trips grew 18% to 3.9 billion and monthly active platform consumers climbed 16% to 208 million.
GAAP net income jumped to $2.39 billion, or $1.17 per diluted share — helped by a $1.6 billion pre-tax benefit from revaluing equity investments — while adjusted EBITDA rose 33% to $2.82 billion.
The stumble was guidance. Uber projected third-quarter gross bookings of $58.25–$60.25 billion, a midpoint of $59.25 billion that fell short of the roughly $59.33 billion consensus, and non-GAAP EPS of $0.84–$0.88 versus the 89-cent estimate.
CEO Dara Khosrowshahi pointed to record first-time-user growth and called Uber "the world's largest platform for autonomous vehicles," with plans to invest more than $10 billion in self-driving commercialization. The company also agreed to acquire Delivery Hero for $14.8 billion, and the robotaxi exclusivity with Waymo in Atlanta and Austin will end by early 2028.
