Uber Technologies, Inc. · UBER · FY2025 Q2 · Calendar Q3 2025

Uber's Q2 growth broadens as AV and platform strategy advance

The supplied analysis supports a constructive but conditional view: Uber's growth is broadening through Mobility and Delivery cross-selling, membership, low-cost products, advertising, and autonomous-vehicle partnerships. The thesis depends on sustaining demand and retention while converting AV partnerships into scalable economics without losing pricing discipline.

Reported Before market openNYSETechnology $145.57B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.63 Consensus $0.63
EPS surprise +0.2% Reported versus consensus
Reported revenue $12.65B Consensus $12.47B
Revenue surprise +1.4% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.2% Event window
SPY move +0.8% Same window
Abnormal move -1.0% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift +3.1% Up to 20 sessions
UBERSPY benchmark

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Transcript intelligence

What changed

Relative to the prior-quarter analysis, Uber's reported Q2 discussion added 18% gross-bookings growth, Uber One membership of 36 million versus 30 million previously noted, broader AV plans across partners and markets, and a new $20 billion repurchase authorization. Management also emphasized cross-platform retention and continued expansion of low-cost and premium products.

Guidance delta

Guidance sentiment was maintained; management expressed confidence in continued strong Q3 performance.

Key takeaways

  • Gross bookings increased 18%, alongside new highs in adjusted EBITDA, GAAP operating income, and free cash flow.
  • Cross-platform use is a central growth lever; multi-service users showed higher retention in management's discussion.
  • Uber One membership reached 36 million, up from 30 million in the prior-quarter analysis.
  • Autonomous-vehicle expansion, low-cost products, premium services, and advertising remain key growth initiatives.
  • A new $20 billion share-repurchase authorization reinforces capital returns as a stated priority.

Management priorities

  • Scale autonomous-vehicle deployments with Waymo, Lucid, Nuro, and additional OEM partners.
  • Expand low-cost Moto and premium Reserve offerings while developing cross-app and super-app functionality.
  • Grow Uber One membership, advertising, and AI solutions using platform data.
  • Maintain an aggressive share-repurchase program.

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Earnings History

Estimate Beat Miss Match
UBER EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $0.16 Q4 '23 actual $0.62, beat Q1 '24 estimate $0.22 Q1 '24 actual $-0.32, miss Q2 '24 estimate $0.31 Q2 '24 actual $0.47, beat Q3 '24 estimate $0.41 Q3 '24 actual $1.20, beat Q2 '25 estimate $0.63 Q2 '25 actual $0.63, match Q3 '25 estimate $0.69 Q3 '25 actual $3.11, beat Q4 '25 estimate $0.79 Q4 '25 actual $0.14, miss Q1 '26 estimate $0.69 Q1 '26 actual $0.72, beat Q2 '26 estimate $0.81 Q2 '26 actual $0.81, match Q3 '26 estimate $0.86 Q4 '26 estimate $0.98 Q1 '27 estimate $0.92
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Analyst Consensus ?

ConsensusBuy62 ratings
Bullish5182.3%
Neutral1117.7%
Bearish00.0%

Analyst 52W Price Targets

$71.51Current
$33Low
$90.2Average
$150High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 10, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Citizens Market Outperform Market OutperformMaintainOct 7, 2026
BTIG Buy BuyMaintainOct 7, 2026
Wells Fargo Overweight OverweightMaintainOct 5, 2026
Wedbush Outperform OutperformMaintainSep 8, 2026
StoneX Hold HoldMaintainSep 8, 2026
Show 57 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $71.51. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoKen Gawrelski$92$68.11 +28.7%Oct 5, 2026
Arete ResearchAnalyst unavailable$74$71.08 +3.5%Sep 10, 2026
ScotiabankAnalyst unavailable$100$73.13 +39.8%Sep 9, 2026
BTIGJake Fuller$100$75.96 +39.8%Sep 4, 2026
BMO CapitalBrian Pitz$119$75.77 +66.4%Sep 3, 2026
See 144 more

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Company context

Snapshot as of publication

Uber Technologies, Inc. is a leading technology corporation that conceptualizes and deploys its proprietary software applications across a broad global footprint, spanning North and South America, Europe, the Middle East, Africa, and the Asia-Pacific region. The company primarily serves as a digital nexus, linking consumers with independent transport providers for ride-hailing services. Furthermore, it connects individuals and other patrons with a variety of establishments—such as restaurants, grocery stores, and other retailers—to a network of delivery service providers for the preparation and transport of meals, groceries, and other goods. The organization structures its operations into three distinct divisions: Mobility, Delivery, and Freight.…

Historical context

All UBER earnings

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-10-10T12:00:46.864183+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T12:00:46.861435+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.