TLDR
- Uber reports Q3 results Wednesday, with the stock down 0.3% in premarket trading
- Wall Street expects gross bookings of $59.8 billion, up 20% from a year ago
- Analysts see 215 million monthly active consumers, up 14%
- Robotaxi plans, including a 15-city target by year-end, are in focus
- Uber stock is down almost 30% over the past year
Uber (UBER) stock edged lower in premarket trading on Wednesday, down 0.3%. It closed Tuesday at $66.60.
The company reports third quarter results later today. Investors want to see if growth can hold up after a rough year for the stock.
Bloomberg consensus calls for gross bookings of $59.8 billion. That would be up 20% from a year ago.
The figure sits above the $59.25 billion midpoint of Uber’s guidance. The range runs from $58.25 billion to $60.25 billion.
Analysts also expect 215 million monthly active platform consumers. That is up 14% from 189 million a year earlier.
Uber posted 208 million in the second quarter, up 16%. So the pace of user growth is one number to watch.
What Wall Street Expects
Revenue is forecast at about $14.65 billion, up 9%. Seeking Alpha puts the estimate slightly higher at $14.67 billion.
Adjusted EPS estimates range from $0.87 to $0.90. Uber’s own guidance was $0.84 to $0.88.
Adjusted EBITDA is expected at $2.93 billion. That compares with $2.26 billion a year ago, a jump of 30%.
Analysts are mostly positive heading in. TD Cowen’s John Blackledge rates the stock a Buy with a $118 price target. He sees the report as a possible catalyst.
Truist has a Buy and a $112 target. Its card data shows mobility bookings tracking in line, while delivery bookings are running ahead of estimates.
Evercore ISI rates Uber Outperform with a $150 target. It says Uber must prove it can keep its robotaxis busy and earn good returns.
UBS is a bit more cautious. It trimmed its 2026 and 2027 bookings estimates by about 1% each.
The bank pointed to tougher comparisons in U.S. mobility. It also cited fading insurance-related benefits and stiff competition from scooters in Brazil.
Seeking Alpha’s Quant Rating is a Hold. Over three months, revenue estimates saw 10 upward revisions and 28 downward ones.
Robotaxis and Deals
CEO Dara Khosrowshahi says Uber is on track to be live in 15 cities with autonomous rides by year-end. Launches include Nuro and Lucid in the Bay Area, Zoox in Las Vegas, and Wayve in London and Tokyo.
Uber is building its own robotaxi networks with Lucid (LCID) and Rivian (RIVN). It has said it will commit more than $10 billion to these partnerships.
Investors also want to know how Uber fills the gap as Waymo unwinds its partnership with the company. That question is likely to come up on the call.
Uber has been busy with deals this year. It agreed to buy ezCater for $2.3 billion in October.
In July, it launched a $14.8 billion takeover offer for Delivery Hero. Truist expects that deal to add to results starting in the second half of 2027.
Last week, rival DoorDash agreed to buy Instacart for $17 billion. Uber stock is down about 18% so far this year, while the S&P 500 has gained more than 10%.
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