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Why Is Uber (UBER) Down 5.9% Since Last Earnings Report?
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It has been about a month since the last earnings report for Uber Technologies (UBER - Free Report) . Shares have lost about 5.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Uber due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
UBER Q1 Earnings Beat Estimates
Uber Technologies reported mixed first-quarter 2026 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the mark.
Quarterly earnings per share of 72 cents beat the Zacks Consensus Estimate of 70 cents. The reported figure matched the higher end of the company guided range of 65-72 cents per share.
Total revenues of $13.2 billion missed the Zacks Consensus Estimate of $13.3 billion. The top line jumped 14.4% year over year on a reported basis and 10% on a constant currency basis.
In the reported quarter, the majority (51.5%) of the company’s revenues came from Mobility. Revenues from this segment jumped 5% year over year on a reported basis and 1% on a constant currency basis to $6.79 billion. Revenues from the Delivery segment increased 34% year over year on a reported basis and 28% on a constant currency basis to $5.06 billion. Freight revenues were $1.33 billion, up 6% year over year on a reported basis as well as on a constant currency basis.
Adjusted EBITDA in the first quarter surged 33% year over year to $2.48 billion. The reported figure lies above the guided range of $2.37 billion to $2.47 billion.
Gross bookings from Mobility improved 25% year over year on a reported basis and 20% on a constant currency basis to $26.39 billion. Gross bookings from Delivery augmented 28% year over year on a reported basis and 23% on a constant currency basis to $25.99 billion. Gross bookings from Freight came in at $1.33 million in the first quarter, up 6% year over year on a reported basis as well as on a constant currency basis.
Total gross bookings ascended 25% year over year on a reported basis and 21% on a constant currency basis to $53.72 billion. The reported figure lies above the guided range of $52.00 billion to $53.50billion.
Uber exited the first quarter with cash and cash equivalents of $5.55 billion compared with $7.10 billion at the end of the prior quarter. Long-term debt, net of the current portion, was $10.5 billion, flat sequentially.
Operating cash flow was $2.35 billion in the reported quarter. The free cash flow was $2.28 billion.
UBER’s 2Q26 Guidance
For the second quarter of 2026, Uber expects gross bookings of$56.25 billion to $57.75 billion, indicating year-over-year growth of 18-22% on a constant currency basis. The guidance assumes a 2 percentage-point currency tailwind to total reported year-over-year growth. Adjusted EPS is expected to be in the range of 78-82 cents, reflecting year-over-year growth of 31-38% at the midpoint. The adjusted EBITDA is estimated to be in the range of $2.70 billion-$2.80 billion.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
The consensus estimate has shifted 5.5% due to these changes.
VGM Scores
Currently, Uber has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Uber has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Uber (UBER) Down 5.9% Since Last Earnings Report?
It has been about a month since the last earnings report for Uber Technologies (UBER - Free Report) . Shares have lost about 5.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Uber due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
UBER Q1 Earnings Beat Estimates
Uber Technologies reported mixed first-quarter 2026 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the mark.
Quarterly earnings per share of 72 cents beat the Zacks Consensus Estimate of 70 cents. The reported figure matched the higher end of the company guided range of 65-72 cents per share.
Total revenues of $13.2 billion missed the Zacks Consensus Estimate of $13.3 billion. The top line jumped 14.4% year over year on a reported basis and 10% on a constant currency basis.
In the reported quarter, the majority (51.5%) of the company’s revenues came from Mobility. Revenues from this segment jumped 5% year over year on a reported basis and 1% on a constant currency basis to $6.79 billion. Revenues from the Delivery segment increased 34% year over year on a reported basis and 28% on a constant currency basis to $5.06 billion. Freight revenues were $1.33 billion, up 6% year over year on a reported basis as well as on a constant currency basis.
Adjusted EBITDA in the first quarter surged 33% year over year to $2.48 billion. The reported figure lies above the guided range of $2.37 billion to $2.47 billion.
Gross bookings from Mobility improved 25% year over year on a reported basis and 20% on a constant currency basis to $26.39 billion. Gross bookings from Delivery augmented 28% year over year on a reported basis and 23% on a constant currency basis to $25.99 billion. Gross bookings from Freight came in at $1.33 million in the first quarter, up 6% year over year on a reported basis as well as on a constant currency basis.
Total gross bookings ascended 25% year over year on a reported basis and 21% on a constant currency basis to $53.72 billion. The reported figure lies above the guided range of $52.00 billion to $53.50billion.
Uber exited the first quarter with cash and cash equivalents of $5.55 billion compared with $7.10 billion at the end of the prior quarter. Long-term debt, net of the current portion, was $10.5 billion, flat sequentially.
Operating cash flow was $2.35 billion in the reported quarter. The free cash flow was $2.28 billion.
UBER’s 2Q26 Guidance
For the second quarter of 2026, Uber expects gross bookings of$56.25 billion to $57.75 billion, indicating year-over-year growth of 18-22% on a constant currency basis. The guidance assumes a 2 percentage-point currency tailwind to total reported year-over-year growth. Adjusted EPS is expected to be in the range of 78-82 cents, reflecting year-over-year growth of 31-38% at the midpoint. The adjusted EBITDA is estimated to be in the range of $2.70 billion-$2.80 billion.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended upward during the past month.
The consensus estimate has shifted 5.5% due to these changes.
VGM Scores
Currently, Uber has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Uber has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.