Uber Stock Falls 6-7% on Cautious Q3 Forecast Despite Strong Q2 Earnings

According to Stocktwits reporting on Uber's Wednesday earnings, shares of Uber Technologies (UBER) fell 6-7% despite solid second-quarter results as investors focused on disappointing near-term guidance. The stock is on track for its worst day since November 2025. Gross bookings reached $58 billion, up 24% year-over-year, while adjusted earnings hit $0.81 per share, up 35%. However, Q3 guidance of $0.84-$0.88 per share fell short of Wall Street's $0.91 estimate.

Uber continues scaling autonomous vehicle deployment, operating robotaxis in seven cities with a goal of 15 by year-end. The company has committed over $10 billion in capital to expand autonomous vehicle operations across 28 cities long-term, working with partners including Zoox, Wayve, Baidu and Rivian. Autonomous trips currently represent less than 0.5% of Uber's total volume but are growing.