Uber Q3 Earnings Guidance Miss and Market Reaction
Uber Technologies Inc. projected adjusted earnings per share of $0.84 to $0.88 for the current quarter, falling short of LSEG consensus of $0.89. The company also indicated gross bookings will range between $58.25 billion and $60.25 billion, roughly one percent lower year‑on‑year because of foreign‑exchange headwinds, versus analyst expectation of $59.21 billion. For the prior quarter, gross bookings were $58.02 billion, beating forecasts. CEO Dara Khosrowshahi attributed the recent booking strength to the FIFA World Cup events in the United States, Canada and Mexico, which boosted tourist demand. Revenue grew 12% year‑over‑year to $14.19 billion, yet remained below analyst estimates, a shortfall partially linked to an accounting change in Britain that affected reported sales growth. Uber disclosed plans to allocate more than $10 billion to autonomous‑vehicle development over the coming years, without specifying a rollout timeline. The firm also referenced its July acquisition of Delivery Hero for $14.8 billion, stating the purchase would be funded through existing liquidity and debt facilities. Following the guidance release, Uber shares slipped more than 4% in early U.S. trading on Wednesday.