Uber beats Q2 EPS by a penny as gross bookings jump 24%
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- Uber Technologies posted Q2 adjusted EPS of 81 cents, up 35% year-over-year, narrowly beating the 80-cent FactSet consensus while revenue rose 12% to $14.2 billion (marginally below estimates).
- Gross bookings grew 24% to $58 billion, with the value of trips taken climbing 18% year-over-year to $3.9 billion, reflecting what CEO Dara Khosrowshahi called record consumer engagement and the strongest twelve-month stretch of new-user additions in five years.
- Khosrowshahi said Uber is continuing to invest in building what he called the "world's largest platform for autonomous vehicles," a priority that dovetails with investor concerns about rival robotaxi platforms.
- Q3 guidance calls for gross bookings of $58.25 billion to $60.25 billion (18% to 22% growth on a constant-currency basis) and EPS of 84 to 88 cents, bracketing the Street's $59.3 billion bookings and 87-cent EPS estimates.
- Shares reversed an early premarket gain and fell roughly 3% to $69.79, leaving the stock down 11.9% year-to-date even as the average analyst price target stood at $104.70, according to FactSet.
- Revenue of $14.2 billion was described as marginally below analyst estimates despite the strong bookings growth, signaling the disconnect between top-line performance and Wall Street's precise modeling.
Why it matters: A penny-per-share earnings beat didn't budge Uber's stock — the 3% drop signals investors are pricing in robotaxi competitive risk rather than reacting to the quarter itself. With the stock down 11.9% YTD and trading at $69.79 against a $104.70 average analyst price target, the bull-bear fight hinges on whether Uber's autonomous-vehicle platform bet can offset looming competition from other robotaxi operators.
