Uber Technologies stock fell as much as 6–7% on Wednesday despite reporting second-quarter gross bookings of $58 billion, up 24% year-over-year and above the high end of company guidance. The decline followed Uber's third-quarter forecast of $0.84–$0.88 adjusted earnings per share, below Wall Street's $0.91 estimate, as investors weighed continued high investment in autonomous vehicle scaling. The stock is on track for its worst day since November 2025 if losses hold, even as the ride-hailing company posted its fourth consecutive quarter of over 20% bookings growth and expanded autonomous vehicle partnerships to seven cities.
Uber Reports Q2 Gross Bookings of $58 Billion
Uber on Wednesday reported gross bookings of $58 billion, up 24% from a year earlier and above the high end of its own guidance. This marked the fourth straight quarter of more than 20% growth. Trips rose 18% to 3.9 billion, driven by more active users and higher usage. Revenue grew 12% to $14.2 billion, below a Wall Street estimate of $14.26 billion.
Adjusted earnings reached $0.81 per share, up 35%, though marginally below an estimated $0.83. Adjusted core profit climbed 33% to $2.8 billion as the company's mobility and delivery segments both contributed solid growth.
Uber's third-quarter forecast set gross bookings at $58.25–$60.25 billion and adjusted earnings at $0.84–$0.88 per share, below a Wall Street estimate of $0.91.
Uber Expands Autonomous Vehicle Partnerships Across Seven Cities
On the earnings call, CEO Dara Khosrowshahi highlighted ongoing work in autonomous vehicles: "We also continue to invest behind one of the largest opportunities in Uber's history, autonomous vehicles... We're executing with discipline today while building the capabilities we believe will define Uber's next decade of growth."
After ending its own robotaxi development years earlier, Uber shifted to a platform strategy focused on commercializing autonomous vehicles built by others. Khosrowshahi said the company's goal is "to become the world's leading commercialization platform for autonomous vehicles," emphasizing partnerships over in-house hardware.
Uber is live with robotaxis in seven cities and aims for 15 by year-end, working with partners including Zoox, Nuro-Lucid, Wayve, Baidu, Rivian and others. The company aims to deploy robotaxis in 28 cities in the long term and has committed to over $10 billion of capital over the coming years to scale AVs.
Khosrowshahi said the conversation around robotaxis has shifted from whether the technology works to "how broadly, reliably and economically it can scale." Partner vehicles generate "very significant utilization," often mid- to high-20s or low-30s trips per day. Autonomous trips remain under 0.5% of Uber's total volume but are growing. Khosrowshahi stressed Uber is "not dependent on one partner" and is working with a wide range of players.
Retail Traders Maintain Bullish Sentiment on Uber Stock
On Stocktwits, retail sentiment around Uber stock stayed within the 'bullish' territory over the past 24 hours, while message volume increased from 'normal' to 'high' levels.
A Stocktwits user said they were buying more Uber shares during Wednesday's selloff, calling it a "fire sale on a great company because of overblown AV fears." Another retail trader highlighted that the company's gross bookings accelerated in the quarter and dismissed the selloff, saying, "Market is a toddler throwing an illogical tantrum." A third user applauded the company's earnings report.
Uber stock has fallen 18% year-to-date.
FAQ
Why did Uber stock fall despite strong Q2 bookings growth?
Uber stock fell 6–7% on Wednesday because the company's third-quarter earnings forecast of $0.84–$0.88 per share came in below Wall Street's $0.91 estimate, even though second-quarter gross bookings of $58 billion exceeded guidance and grew 24% year-over-year.
What is Uber's autonomous vehicle strategy?
Uber operates as a commercialization platform for autonomous vehicles built by partners including Zoox, Nuro-Lucid, Wayve, Baidu, and Rivian. The company is live with robotaxis in seven cities, aims for 15 by year-end, and targets 28 cities in the long term, with over $10 billion committed to scaling AVs. Autonomous trips currently represent under 0.5% of Uber's total volume.
How has Uber stock performed year-to-date?
Uber stock has fallen 18% year-to-date, with Wednesday's 6–7% decline marking the worst single-day performance since November 2025 if losses hold.
