Uber Technologies reported third-quarter 2026 results on Wednesday, with gross bookings of $59.8 billion, up 20% year over year, as trips rose 16% to 4.1 billion and monthly active platform consumers increased 14% to 215 million.
Revenue grew 10% to $14.8 billion, although business-model changes reduced reported revenue growth by eight percentage points. Mobility gross bookings rose 18% to $29.5 billion, delivery gross bookings rose 22% to $28.5 billion, and freight gross bookings rose 35% to $1.8 billion.
Profitability expanded on an operating basis. GAAP operating income rose 30% to $1.4 billion, adjusted EBITDA increased 31% to $3.0 billion, and non-GAAP operating income climbed 38% to $2.3 billion. Non-GAAP earnings per share rose 35% to $0.88, while free cash flow was $2.5 billion for the quarter, bringing trailing 12-month free cash flow to a record $10.4 billion.
Reported net income told a different story. GAAP net income was $512 million after a $476 million pre-tax net loss from equity-investment revaluations, down from $6.63 billion a year earlier. Quarterly earnings of 25 cents per share missed the Zacks Consensus Estimate of 94 cents by 73.4%, while revenues of $14.77 billion surpassed the consensus estimate of $14.74 billion.
For the fourth quarter, Uber anticipates gross bookings of between $63.25 billion and $65.25 billion, representing growth of 18% to 22%, with non-GAAP earnings of 95 cents to 99 cents per share and adjusted EBITDA of $3.13 billion to $3.23 billion. The company also said in a filing that Jill Hazelbaker, president and chief corporate affairs officer, will step down on November 30 for an external opportunity.
