-- Uber Technologies (UBER) on Wednesday issued a bookings growth outlook that surpassed Wall Street's estimates, while the ride-hailing company's first-quarter profit grew year-on-year.
The company expects bookings of $56.25 billion to $57.75 billion for the current quarter, implying an increase of 18% to 22% year over year on a constant currency basis. Analysts in a FactSet survey were looking for gross bookings of $56.17 billion.
Uber expects non-GAAP earnings of $0.78 to $0.82 per share for the second quarter, representing growth of 31% to 38%. The FactSet-polled consensus indicates $0.79.
The company's first-quarter adjusted EPS rose to $0.72 from $0.50 a year earlier, compared with the Street's $0.69 estimate. Bookings gained 25% to $53.72 billion, exceeding the consensus estimate of $52.8 billion.
"We are off to an exceptional start to 2026, with gross bookings growth exceeding 21% for the third consecutive quarter and earnings scaling at more than twice our topline," Chief Financial Officer Balaji Krishnamurthy said in a statement.
Shares of Uber were up 8.6% in Wednesday trade. The stock is down 3% so far this year.
Mobility bookings accelerated to 28%, while delivery grew 23%, led by grocery and retail, Chief Executive Dara Khosrowshahi said during an earnings call, according to a FactSet transcript. Freight bookings returned to growth for the first time in nearly two years, he said.
Trips in the first quarter increased 20%, while monthly active platform consumers grew 17%, the company said. Revenue jumped 14% on reported basis and 10% on a constant currency basis to $13.20 billion, comparted with analysts' $13.28 billion view.
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