Uber Stock Surges 7%, Adding $9.3 Billion, As Adjusted Profit Margin Hits A Record
Record adjusted margins and a higher fourth-quarter bookings outlook lifted shares, though reported net income fell 92% against a year-earlier tax benefit.
Uber shares climbed 6.82% to $71.14 in Wednesday trading, as of 1:00 p.m. ET, adding about $9.3 billion in market value after the ride-hailing and delivery company posted a record adjusted operating margin of 3.9% on gross bookings for the third quarter. Reported net income, though, fell 92% because a year-earlier tax benefit did not repeat.
A record margin, a weaker bottom line
Uber's third-quarter results showed earnings per share of $0.88, up 35%, and operating income of $2.3 billion, up 38%.
Net income of $512 million compared with a year-ago quarter lifted by a $4.9 billion tax benefit. A $476 million pre-tax markdown on equity stakes also weighed on this year's number.
Trips grew 16% to 4.1 billion. Delivery was the faster-growing segment at 22%, reaching $28.5 billion, versus 18% for Mobility at $29.5 billion. Monthly active platform consumers hit 215 million, up 14% from 189 million a year earlier, Yahoo Finance reported.
A rally from a depressed base
Uber runs a technology platform linking riders, diners, shoppers and shippers with independent drivers, couriers, merchants and carriers, across Mobility, Delivery and Freight segments.
The stock was on pace for its biggest one-day gain since May 6, when it rose 8.5%. Even so, shares were down about 18% year to date at Tuesday's close, while the S&P 500 was up about 11%. They sat 30% below their highest close of the past year, set on Nov. 4, 2025.
Revenue in the quarter ended June 30 was $14.2 billion, up 12.2% from a year earlier.
Fourth-quarter targets and robotaxis
Uber guided to $63.25 billion to $65.25 billion of fourth-quarter gross bookings, with adjusted EPS between $0.95 and $0.99.
Management also said it expects about 700 fully driverless vehicles on its platform by the end of 2026 and more than 2,000 in 2027, Benzinga reported, with an update on its robotaxi plans due.
Sources
- Uber Up Over 8%, On Track for Largest Percent Increase Since April 2025 — Data Talk | Morningstar — morningstar.com
- Uber stock rises despite weaker profit forecast — Yahoo Finance
- Uber's Driverless Fleet Could Top 2,000 In 2027 — benzinga.com
- Uber (UBER) Q3 2026 earnings — CNBC
- Uber Stock Rises After Q3 Earnings. Here's Why. | Investor's Business Daily — investors.com
- The company's filing (Uber Technologies) — SEC filing
- Uber Technologies — Form 10-Q for the quarter ended 2026-06-30 (quarterly results) — SEC EDGAR
