$Uber Tech(UBER.US) +9% pre-mkt after guiding to stronger than expected 2Q gross bookings and beating on 1Q gross bookings while narrowly missing on 1Q revs. The strong 2Q outlook signaled that robust demand from US travelers is likely to offset the impact from geopolitical tensions in the Middle East.
Uber’s core US rideshare business will “accelerate further” this year, CEO Dara Khosrowshahi said in prepared remarks. Heightened insurance costs, which had contributed to higher fares and weighed on the US business, have been moderating, leading to meaningfully improved trip growth in the hardest-hit markets, such as SFO and LA.Conference call 8am ET likely to focus on efforts to build out autonomous ride hailing capabilities with a growing stable of partners. 2Q FORECAST- Gross bookings $56.25B - $57.75B vs $56.23 B est.- Adj EPS 78c to 82c vs 80c est.- Adj Ebitda $2.7B - $2.8B vs $2.64B est1Q RESULTS- Gross bookings $53.72B, +25% y/y, vs $52.92B est - Mobility bookings $26.39B, +25% y/y, vs $25.82B est - Delivery bookings $25.99B, +28% y/y, vs $25.76B est - Revenue $13.20B, +14% y/y, vs $13.3B est- Adj Ebitda $2.48B vs $2.44B estimate - Ad EPS 72c vs 70c est- Trips 3.64B 20% y/y, vs 3.64B est - Monthly active platform consumers 199M +17% y/y, vs 198.45M estCommentary- CEO: “We expect the U.S. Mobility business to accelerate further in 2026”- “We continue to execute on our barbell strategy across the price spectrum. At the low end, we’re focused on affordability and access. In the core, we’re keeping prices stable through strong supply and product improvements”- “Reaching 50 million Uber One members is an exciting milestone as we execute against our platform strategy, with members now driving half of our Gross Bookings across Mobility and Delivery”Prepared remarks:The copyright of this article belongs to the original author/organization.
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