Uber Technologies reported strong financial and operational growth during the first quarter of 2026, with gross bookings rising 25% year-on-year to $53.7 billion as the company continued expanding across mobility, delivery and subscription services.

The company also announced that its Uber One subscription programme has reached 50 million members globally, with members now generating approximately half of total gross bookings across Uber’s mobility and delivery businesses.

Trips And Active Users Continue To Rise

Uber completed 3.64 billion trips during the quarter, representing a 20% increase compared with the same period last year.

Monthly active platform consumers rose 17% year-on-year to 199 million users, while trips per active user increased by 3%.

Revenue climbed 14% to $13.2 billion, although Uber noted that changes to its business model negatively impacted overall revenue growth by several percentage points.

Chief Executive Officer Dara Khosrowshahi said the company continues expanding the role Uber plays in consumers’ daily lives.

“From innovative travel integrations to new ways to shop, we’re continuing to deepen the role Uber plays in daily life,” Khosrowshahi said.

Profitability Improves Across Core Business Segments

Uber’s GAAP operating income increased 57% year-on-year to $1.9 billion.

Adjusted EBITDA rose 33% to $2.48 billion, while non-GAAP operating income increased 42% to $1.88 billion.

However, net income attributable to Uber Technologies fell sharply to $263 million from $1.78 billion a year earlier.

The decline was primarily linked to a $1.5 billion negative impact from the revaluation of Uber’s equity investments.

Non-GAAP net income increased 39% to $1.49 billion, while non-GAAP earnings per share rose 44% to $0.72.

Delivery Business Continues Rapid Expansion

Uber’s Delivery division remained one of the company’s fastest-growing businesses.

Delivery gross bookings increased 28% to nearly $26 billion, while delivery revenue climbed 34% to more than $5 billion.

The Mobility segment generated gross bookings of $26.4 billion, up 25% year-on-year.

Freight operations saw slower growth, with gross bookings rising 6% to $1.33 billion.

Chief Financial Officer Balaji Krishnamurthy said Uber’s earnings growth continues to significantly outpace topline expansion.

“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,” he said.

Uber Continues Investing In AI And Autonomous Vehicles

The company said it remains focused on long-term investment opportunities including autonomous vehicles and artificial intelligence technologies.

Uber noted that its approach to autonomous vehicle development remains capital efficient while AI investments are being used to improve productivity and support future growth.

The company ended the quarter with $6.1 billion in unrestricted cash, cash equivalents and short-term investments.

Strong Outlook For Second Quarter

For the second quarter of 2026, Uber expects gross bookings between $56.25 billion and $57.75 billion, representing constant-currency growth of between 18% and 22%.

The company also forecast adjusted EBITDA between $2.7 billion and $2.8 billion alongside non-GAAP earnings per share of $0.78 to $0.82.

Uber said ongoing growth across its platform businesses and subscription ecosystem positions the company strongly for the remainder of 2026.