Business · Companies · 5 hrs ago
Uber revenue tops estimates as ride-hailing and delivery fall short
Uber’s third-quarter revenue rose 10% to $14.77 billion, slightly above analysts’ expectations.
Its ride-hailing and delivery businesses both fell short of estimates, even as delivery revenue grew 23%; freight revenue jumped 34% and helped lift the total.
Net income fell to $512 million, largely because the previous year included a $4.9 billion tax-related benefit.
Driver shortages and high fuel costs weighed on rides, while Uber said conflict in the Middle East also slowed growth in mobility bookings.
The company is spending more to recruit and keep drivers, and says mobility trends improved in October.
Uber forecast fourth-quarter adjusted profit below analysts’ expectations, though its bookings outlook was broadly in line with forecasts.
It expects about 700 driverless vehicles on its platform by year-end and more than 2,000 by the end of 2027.
Uber forecast fourth-quarter adjusted profit below Wall Street expectations as driver shortages, higher fuel costs and the Middle East conflict weighed on ride-hailing growth.
The company expects adjusted profit of 95 to 99 US cents per share, compared with analysts’ estimate of US$1.06.
Third-quarter revenue rose 10% to US$14.77-billion, topping estimates, while revenue in Uber’s mobility and delivery businesses fell short of estimates.
Uber said the Middle East conflict reduced Mobility bookings growth by 75 basis points and assumed a 100-basis-point impact in the fourth quarter.
The company is spending more to recruit, retain and reactivate drivers and plans to expand its autonomous-vehicle fleet.
- Who
- Uber, led by CEO Dara Khosrowshahi, and Wall Street analysts.
- What
- Uber forecast fourth-quarter adjusted profit below analysts’ expectations. Driver shortages, higher fuel costs and the Middle East conflict weighed on ride-hailing growth.
- When
- The forecast was reported on Wednesday, November 4, 2026.
- Where
- The effects included international markets, including India, Brazil and Canada.
- Why
- Uber said driver shortages, higher fuel costs and the Middle East conflict weighed on Mobility growth.
This story does not have two clearly opposing sides.
Uber reported revenue of US$14.77-billion, up 10% from a year earlier.
Uber said mobility trends improved.
Uber forecast fourth-quarter adjusted profit of 95 to 99 US cents per share, below analysts’ estimate of US$1.06.
Uber expects about 700 fully driverless vehicles on its platform.
Uber expects more than 2,000 automated vehicles on its platform.
- Third-quarter revenue
- US$14.77-billion
- Fourth-quarter adjusted profit forecast
- 95 to 99 US cents per share
- Analysts’ adjusted profit estimate
- US$1.06 per share
- Middle East conflict impact
- 75-basis-point drag on Mobility bookings growth; 100-basis-point hit assumed in the fourth quarter
- Driverless vehicles by year-end
- About 700
- Automated vehicles by the end of 2027
- More than 2,000
3 sources
What people are saying
Elevated fuel prices and tighter driver availability weighed on supply growth in several international markets.
targeted investments to strengthen driver supply