Overview
- Uber reported third-quarter results on Nov. 4 showing gross bookings rose about 20% to $59.82 billion, revenue grew roughly 10% to $14.8 billion, and non‑GAAP earnings per share were $0.88.
- For the fourth quarter the company guided adjusted profit of $0.95 to $0.99 per share, below the Street estimate near $1.06, and the weaker outlook pressured the stock in premarket trading.
- Management said tighter driver supply, higher fuel costs and the Middle East conflict weighed on mobility in markets such as India, Brazil and Canada and that it will increase spending to recruit, retain and reactivate drivers.
- Uber confirmed an autonomous vehicle goal of about 700 fully driverless vehicles on its platform by year‑end 2026 and more than 2,000 by end‑2027 while concentrating capital on a smaller group of AV partners and relying on partner technology and local approvals.
- The company has pursued selective deals including ezCater and a takeover offer for Delivery Hero but signaled minimal additional M&A through 2027, highlighting a trade-off between near-term profit pressure and long-term AV and scale investments.