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Uber Beats Expectations on Bookings Outlook
Company Cites Robust Demand in U.S.
Uber Technologies Inc. provided a better-than-expected forecast for bookings, signaling that robust demand from U.S. commuters and travelers will offset impact from geopolitical tensions in the Middle East.
The ride-hailing service guided total gross bookings to between $56.25 billion and $57.75 billion for the three-month period ending in June, while analysts on average looked for $56.23 billion. Total gross bookings include ride hails, delivery orders and driver and merchant earnings but not tips.
Uber’s core U.S. rideshare business will “accelerate further” this year, CEO Dara Khosrowshahi said in prepared remarks. Heightened insurance costs, which had contributed to higher fares and weighed on the U.S. business, have been moderating. That has led to meaningfully improved trip growth in the hardest-hit markets, such as San Francisco and Los Angeles, he said.
Total gross bookings grew 25% to $53.7 billion for the three months ended March 31, exceeding the Bloomberg-compiled analyst estimates of $52.9 billion. Bookings expanded at the fastest pace since late 2022 thanks to strength in Uber’s core U.S. business, delivery demand in international markets, as well as a return to growth by its freight unit.
Shares of Uber jumped as much as 7.6% to $78.50 in New York after the results were released, the biggest intraday gain since June 24. Rideshare peer Lyft Inc. gained as much as 3.8%.
Uber’s results will set expectations for the broader ride-hailing and food-delivery industries, as Wall Street is tracking closely the fallout of the war in Iran on gig-economy drivers and travel demand. Delivery rival DoorDash Inc. is scheduled to release its financials on May 6, while Lyft will report on May 7.
Well done to our team and 🙏 to our customers, earners and merchant partners. https://t.co/iDCSETiqSN — dara khosrowshahi (@dkhos) May 6, 2026
Uber has also been investing to expand its higher-margin premium offerings, focusing on bigger-spending corporate travelers and providing luxury services with professional chauffeurs. It has set a target for its business-to-business operations to serve as many as 1 million organizations and exceed $10 billion in gross bookings by 2028, Chief Financial Officer Balaji Krishnamurthy said in prepared remarks. That segment currently generates more than $5 billion annualized bookings and works with more than 300,000 organizations globally, he added.
That enterprise push could lead to incremental sales head count in select growth markets, but overall the company will moderate the pace of hiring relative to its plans entering the year, Krishnamurthy said. That’s due to the productivity gains it has seen from the internal use of generative AI tools, according to the executive.
Uber Freight ranks No. 16 on the Transport Topics Top 100 list of the largest logistics companies in North America.
