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's Q2 FY2026 results demonstrated robust operational momentum with revenue climbing 12% year-over-year to $14.2 billion, driven by a 24% surge in Gross Bookings as trip volumes expanded 18% and Monthly Active Platform Consumers grew 16%. The company's core profits strengthened, with Mobility and Delivery segment operating income rising 28% and 38%, respectively, as cost leverage improved. However, net income was significantly inflated by $1.6 billion in pre-tax unrealized gains from equity investments, masking some underlying expense increases such as a 40% jump in general and administrative costs. The period also reflected the ongoing impact of UK business model changes, which suppressed reported revenue growth by $1.1 billion.
Revenue
$14.19B
+12.17% YoY
EPS (Diluted)
$1.17
+85.71% YoY
Operating Income
$1.89B
+30.34% YoY
Source: SEC XBRL
Uber Technologies (UBER) reported Q2 FY2026 revenue of $14.19B, up 12.2% year over year. Operating margin was 13.3%, up 1.8 points from 11.5% a year earlier. UBER's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 1 beat
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Mar 2026 | 0.13 | 0.71 | Miss -81.8% |
| Dec 2025 | 0.14 | 0.81 | Miss -82.8% |
| Sep 2025 | 3.11 | 0.70 | Beat +345.2% |
| Jun 2025 | 0.63 | 0.64 | Miss -1.5% |
3 reported segments · SEC XBRL
Segment revenue totals $14.19B, which is the $14.19B of consolidated revenue on the income statement.
Profit above is reported as operating income, the measure UBER itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
Revenue increased 12% YoY to $14.2B, primarily driven by a 24% increase in Gross Bookings to $58.0B, with Trips up 18% and MAPCs up 16%. UK Mobility business model changes dampened revenue by $1.1B.
Source: 10-Q Item 2 MD&A
Net income attributable to Uber reached $2.4B, benefiting from a $1.6B pre-tax net unrealized gain on equity securities, including a $1.1B gain on Delivery Hero and $899M on Aurora, partially offset by a $437M loss on Didi.
Source: 10-Q Item 2 MD&A
Mobility Segment Operating Income grew 28% to $2.2B, aided by an $813M decrease in Driver payments and incentives resulting from UK business model changes, and higher Gross Bookings.
Source: 10-Q Item 2 MD&A
Delivery Segment Operating Income rose 38% to $1.1B as revenue increased 28% on 26% Gross Bookings growth and a $182M increase in advertising revenue, partially offset by higher Courier payments.
Source: 10-Q Item 2 MD&A
Total operating expenses grew 15% YoY, with general and administrative expenses up 40% due to legal accruals and compensation, and R&D up 24% on employee costs, though revenue growth outpaced expenses, lifting operating margin to 13.3%.
Source: 10-Q Item 2 MD&A
Compiled by AI from 10-Q Item 1A of this filing · 3 high, 2 medium, 0 low
Legal and regulatory challenges globally threaten to reclassify Drivers as employees, which would significantly increase costs for wages, benefits, and taxes, and could reduce driver supply if flexibility is lost.
Source: 10-Q Item 1A Risk Factors
Uber faces fierce competition from well-capitalized rivals in mobility (e.g., Lyft, Waymo), delivery (DoorDash, Delivery Hero), and freight, with low switching costs and constant pressure on pricing and incentives.
Source: 10-Q Item 1A Risk Factors
To compete, Uber may need to continue offering significant driver incentives and consumer discounts, which could erode margins and profitability, as seen in past periods of negative revenue margins.
Source: 10-Q Item 1A Risk Factors
Despite recent profits, Uber has an accumulated deficit of $8.0B and may face challenges maintaining profitability due to rising expenses, competitive pressures, and investments in new ventures.
Source: 10-Q Item 1A Risk Factors
Uber is subject to extensive and evolving regulations globally, including labor, data privacy, and payment services rules, which could restrict operations, impose fines, or require business model changes.
Source: 10-Q Item 1A Risk Factors
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 14.19 $B | 12.65 $B | +12.17% |
Operating Income $B | 1.89 $B | 1.45 $B | +30.34% |
Net Income $B | 2.39 $B | 1.36 $B | +76.68% |
EPS (Basic) $ | 1.18 $ | 0.65 $ | +81.54% |
EPS (Diluted) $ | 1.17 $ | 0.63 $ | +85.71% |
R&D Expense $B | 1.04 $B | 0.84 $B | +24.17% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
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.
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.