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Uber Q1 Earnings on Deck: Buy, Sell or Hold It Ahead of Results?
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Key Takeaways
Uber to report Q1 2026 May 6; consensus calls for 71 cents EPS and $13.27B in revenues.
Uber guides Q1 gross bookings of $52B-$53.5B and adjusted EBITDA of $2.37B-$2.47B.
Uber put over $1B into Rivian for 10,000 R2 robotaxis from 2028, expanding to 25 cities by 2031.
Uber Technologies (UBER - Free Report) is slated to release first-quarter 2026 results on May 6, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at 71 cents per share and $13.27 billion, respectively.
The earnings estimate for the to-be-reported quarter has inched up a cent over the past 60 days. The Zacks Consensus Estimate for quarterly revenues indicates a 15% uptick from the year-ago quarter’s figure. The same for quarterly earnings indicates a 14.5% decline from the year-ago quarter’s figure.
Image Source: Zacks Investment Research
For 2026, the Zacks Consensus Estimate for UBER’s revenues is pegged at $57.92 billion, implying an expansion of 11.3% year over year. The consensus mark for 2026 EPS is pegged at $3.34, implying a decline of 37% on a year-over-year basis.
In the trailing four quarters, this company’s earnings surpassed estimates on three occasions, missing the mark in the other quarter. The average beat is 104.6%.
Our proven model does not predict an earnings beat for UBER for the March quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Uber’s gross bookings are likely to have been impressive in the March quarter, despite the ongoing Middle East tensions. The company expects first-quarter 2026 gross bookings to come in between $52 billion and $53.5 billion, implying constant-currency year-over-year growth of 17% to 21%. Management anticipates a roughly 4 percentage-point currency tailwind for the reported figures.
The Zacks Consensus Estimate for gross bookings in the first quarter of 2026 is pegged at $52.9 billion, representing 23% growth from the actual fourth-quarter 2025 results. We expect both its mobility and delivery segments to record double-digit increases in gross bookings in the March quarter. In the first quarter, Uber expects adjusted EBITDA to be in the range of $2.37 billion to $2.47 billion.
However, tariff-related headwinds are likely to hurt results. High fuel costs due to the oil price jump induced by the Iran war might have hurt the bottom-line performance in the to-be-reported quarter. We believe that more than the financial numbers, it is the guidance that investors will watch closely. Uber has been focusing on autonomous vehicles to drive growth. The company is expected to provide updates on this during the first-quarter conference call. During the quarter, Uber decided to invest over a billion dollars in Rivian Automotive (RIVN - Free Report) .
The collaboration aims to advance both companies’ autonomous vehicle initiatives, with plans to deploy 10,000 fully autonomous R2 robotaxis in the initial phase. The rollout is expected to start in San Francisco and Miami in 2028, with expansion to 25 cities by 2031. As part of the agreement, Uber will invest up to $1.25 billion in Rivian through 2031, contingent upon the achievement of specific autonomous development milestones within set timelines. This investment supports the development of a large-scale, fully autonomous fleet of Rivian R2 robotaxis, which will be offered exclusively on the Uber platform
UBER’s Price Performance & Valuation
Shares of Uber have declined in excess of 7% over the past three months, underperforming the Zacks Internet-Services industry but outperforming rival Lyft (LYFT - Free Report) .
3-Month Price Comparison
Image Source: Zacks Investment Research
From a valuation perspective, Uber is trading at a lower level compared with its industry. Going by its price/earnings ratio, the company is trading at a forward earnings multiple of 20.38, below the industry’s 28.19. The company has a Value Score of C. Meanwhile, Lyft’s shares appear to be even cheaper, trading at a forward earnings multiple of 8.44. Lyft has a Value Score of B currently.
UBER’s P/E F12M vs. Industry & LYFT
Image Source: Zacks Investment Research
How to Play Uber Pre-Q1 Earnings
Uber’s diversification initiatives and shareholder-friendly strategy deserve recognition. With a substantial market capitalization of $151.4 billion, the company is well-equipped to navigate challenging periods like the present. For large corporations, diversification is essential to mitigate risk and Uber has demonstrated strong execution in this area. It has pursued multiple acquisitions, expanded across geographies and product lines, and continued to innovate. Uber’s push into international markets is particularly noteworthy, as it enhances geographic diversification. Thoughtful investments have also allowed Uber to broaden its services and strengthen the overall value proposition.
That said, concerns about intensifying competition in the robotaxi and autonomous driving segments remain significant. Additionally, elevated operating expenses and rising debt levels present notable challenges that cannot be ignored.
So, all in all, it is worth holding on to Uber stock now, and investing ahead of the upcoming results does not seem like a good idea. It is better to wait for management’s commentary on tariffs, geopolitical woes and the second-quarter guidance to get more clarity on near-term prospects.
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Uber Q1 Earnings on Deck: Buy, Sell or Hold It Ahead of Results?
Key Takeaways
Uber Technologies (UBER - Free Report) is slated to release first-quarter 2026 results on May 6, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at 71 cents per share and $13.27 billion, respectively.
The earnings estimate for the to-be-reported quarter has inched up a cent over the past 60 days. The Zacks Consensus Estimate for quarterly revenues indicates a 15% uptick from the year-ago quarter’s figure. The same for quarterly earnings indicates a 14.5% decline from the year-ago quarter’s figure.
For 2026, the Zacks Consensus Estimate for UBER’s revenues is pegged at $57.92 billion, implying an expansion of 11.3% year over year. The consensus mark for 2026 EPS is pegged at $3.34, implying a decline of 37% on a year-over-year basis.
In the trailing four quarters, this company’s earnings surpassed estimates on three occasions, missing the mark in the other quarter. The average beat is 104.6%.
Uber Technologies Price and EPS Surprise
Uber Technologies, Inc. price-eps-surprise | Uber Technologies, Inc. Quote
Q1 Earnings Whispers for UBER
Our proven model does not predict an earnings beat for UBER for the March quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
UBER has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Shaping UBER’s Q1 Results
Uber’s gross bookings are likely to have been impressive in the March quarter, despite the ongoing Middle East tensions. The company expects first-quarter 2026 gross bookings to come in between $52 billion and $53.5 billion, implying constant-currency year-over-year growth of 17% to 21%. Management anticipates a roughly 4 percentage-point currency tailwind for the reported figures.
The Zacks Consensus Estimate for gross bookings in the first quarter of 2026 is pegged at $52.9 billion, representing 23% growth from the actual fourth-quarter 2025 results. We expect both its mobility and delivery segments to record double-digit increases in gross bookings in the March quarter. In the first quarter, Uber expects adjusted EBITDA to be in the range of $2.37 billion to $2.47 billion.
However, tariff-related headwinds are likely to hurt results. High fuel costs due to the oil price jump induced by the Iran war might have hurt the bottom-line performance in the to-be-reported quarter. We believe that more than the financial numbers, it is the guidance that investors will watch closely. Uber has been focusing on autonomous vehicles to drive growth. The company is expected to provide updates on this during the first-quarter conference call. During the quarter, Uber decided to invest over a billion dollars in Rivian Automotive (RIVN - Free Report) .
The collaboration aims to advance both companies’ autonomous vehicle initiatives, with plans to deploy 10,000 fully autonomous R2 robotaxis in the initial phase. The rollout is expected to start in San Francisco and Miami in 2028, with expansion to 25 cities by 2031. As part of the agreement, Uber will invest up to $1.25 billion in Rivian through 2031, contingent upon the achievement of specific autonomous development milestones within set timelines. This investment supports the development of a large-scale, fully autonomous fleet of Rivian R2 robotaxis, which will be offered exclusively on the Uber platform
UBER’s Price Performance & Valuation
Shares of Uber have declined in excess of 7% over the past three months, underperforming the Zacks Internet-Services industry but outperforming rival Lyft (LYFT - Free Report) .
3-Month Price Comparison
From a valuation perspective, Uber is trading at a lower level compared with its industry. Going by its price/earnings ratio, the company is trading at a forward earnings multiple of 20.38, below the industry’s 28.19. The company has a Value Score of C. Meanwhile, Lyft’s shares appear to be even cheaper, trading at a forward earnings multiple of 8.44. Lyft has a Value Score of B currently.
UBER’s P/E F12M vs. Industry & LYFT
How to Play Uber Pre-Q1 Earnings
Uber’s diversification initiatives and shareholder-friendly strategy deserve recognition. With a substantial market capitalization of $151.4 billion, the company is well-equipped to navigate challenging periods like the present. For large corporations, diversification is essential to mitigate risk and Uber has demonstrated strong execution in this area. It has pursued multiple acquisitions, expanded across geographies and product lines, and continued to innovate. Uber’s push into international markets is particularly noteworthy, as it enhances geographic diversification. Thoughtful investments have also allowed Uber to broaden its services and strengthen the overall value proposition.
That said, concerns about intensifying competition in the robotaxi and autonomous driving segments remain significant. Additionally, elevated operating expenses and rising debt levels present notable challenges that cannot be ignored.
So, all in all, it is worth holding on to Uber stock now, and investing ahead of the upcoming results does not seem like a good idea. It is better to wait for management’s commentary on tariffs, geopolitical woes and the second-quarter guidance to get more clarity on near-term prospects.