Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Uber delivered strong Q1 FY2026 revenue growth of 14.5% to $13.2B and a 56.6% surge in operating income to $1.9B, but net income collapsed 85.2% YoY to $263M, likely due to non-operating items such as investment mark-to-market losses, while the company aggressively returned $3.0B to shareholders via buybacks.
Revenue
$13.2B
+14.48% YoY
EPS (Diluted)
$0.13
-84.34% YoY
Operating Income
$1.92B
+56.60% YoY
Source: SEC XBRL
Uber Technologies (UBER) reported Q1 FY2026 revenue of $13.2B, up 14.5% year over year. Operating margin was 14.6%, up 4.0 points from 10.6% a year earlier. Operating cash flow was $2.35B, up 1.2% year over year. UBER's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.17 | 0.82 | Beat +43.1% |
| Mar 2026 | 0.13 | 0.70 | Miss -81.3% |
| Dec 2025 | 0.14 | 0.81 | Miss -82.8% |
| Sep 2025 | 3.11 | 0.70 | Beat +345.2% |
Compiled by AI from this SEC filing
Uber's Q1 FY2026 revenue grew 14.5% YoY from $11.5B to $13.2B, reflecting continued expansion across its Mobility and Delivery segments as trip volumes and gross bookings increased.
Source: 10-Q Income Statement Data
Operating income surged 56.6% YoY to $1.9B, with operating margin expanding approximately 390 basis points from 10.6% to 14.6%, demonstrating meaningful operating leverage as revenue growth outpaced cost growth.
Source: 10-Q Income Statement & Key Ratios Data
Despite strong operating performance, net income fell 85.2% YoY to $263M (vs. $1.78B prior year), suggesting significant non-operating headwinds — likely unrealized losses on equity investments in companies such as Didi, Aurora, or Grab — which are excluded from operating income.
Source: 10-Q Income Statement Data
Uber repurchased $3.0B in shares during Q1 FY2026, up 68.7% from $1.79B in the prior year period, driving financing cash outflows of $3.1B and signaling management's confidence in the company's intrinsic value.
Source: 10-Q Cash Flow Statement Data
Long-term debt rose 25.9% YoY to $10.5B from $8.35B, likely to fund the expanded buyback program, which warrants monitoring given the debt-to-equity ratio of 1.38x.
Source: 10-Q Balance Sheet Data
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Uber holds significant equity stakes in publicly traded and private companies, whose fair value changes flow through the income statement. The 85.2% YoY drop in net income to $263M despite strong operating results illustrates how these mark-to-market swings can dramatically distort reported earnings and confuse investors about underlying business health.
Source: 10-Q Income Statement Data
Long-term debt increased 25.9% YoY to $10.5B, pushing the debt-to-equity ratio to 1.38x. While operating cash flow of $2.35B provides coverage, the combination of elevated debt and aggressive buybacks ($3.0B in Q1 alone) reduces financial flexibility if macroeconomic conditions deteriorate.
Source: 10-Q Balance Sheet & Cash Flow Data
Uber's current ratio stands at just 1.07x, meaning current assets of $12.8B only marginally exceed current liabilities of $12.0B. This narrow liquidity cushion could become strained if operating cash flows weaken or short-term obligations increase unexpectedly.
Source: 10-Q Balance Sheet Data
R&D expenses grew 16.7% YoY to $951M in Q1 FY2026, outpacing revenue growth of 14.5%. While necessary for long-term competitiveness in autonomous mobility, these investments compress near-term margins and may not yield returns for several years.
Source: 10-Q Income Statement Data
Uber continues to face ongoing regulatory scrutiny globally regarding driver classification (employee vs. independent contractor), which could materially increase labor costs and operational complexity. Any adverse rulings in key markets could significantly impact the cost structure and profitability of the platform.
Source: 10-Q Risk Factors (inferred from business model)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 13.20 $B | 11.53 $B | +14.48% |
Operating Income $B | 1.92 $B | 1.23 $B | +56.60% |
Net Income $B | 0.26 $B | 1.78 $B | -85.19% |
EPS (Basic) $ | 0.13 $ | 0.85 $ | -84.71% |
EPS (Diluted) $ | 0.13 $ | 0.83 $ | -84.34% |
R&D Expense $M | 951.00 $M | 815.00 $M | +16.69% |
Answers draw on this SEC filing and the data on this page
Uber delivered 12% revenue growth and a 77% net income surge in Q2 FY2026, fueled by strong trip volume growth and one-time investment gains, while core Mobility and Delivery margins expanded.
Uber delivered a landmark FY2025, with revenue surging 18.3% to $52.0B and operating income nearly doubling to $5.6B, while generating a record $10.1B in operating cash flow and returning $6.5B to shareholders via buybacks.