Uber said it added more first-time users during the past 12 months than in any comparable period over the previous five years, while trailing-12-month free cash flow exceeded $10 billion for the first time in company history, pairing record platform engagement with a substantially larger cash-generation base.
Monthly Active Platform Consumers increased 16% year-over-year to 208 million during Q2 2026. Trips increased 18% to approximately 3.87 billion, while monthly trips per consumer increased another 2%.
Gross bookings increased 24% to approximately $58.0 billion, or 22% on a constant-currency basis. Revenue increased 12% to $14.19 billion, with business-model changes reducing reported and constant-currency revenue growth by eight percentage points.
Growth was broad across Uber’s major marketplaces. Mobility gross bookings increased 22% to approximately $28.99 billion, Delivery gross bookings grew 26% to $27.46 billion and Freight bookings increased 25% to $1.57 billion.
Delivery revenue increased 28% to $5.25 billion, while Mobility revenue increased 1% to $7.36 billion and was flat in constant currency. Freight revenue increased 26% to $1.58 billion.
Profit growth continued to outpace revenue. GAAP income from operations increased 30% to $1.89 billion, while non-GAAP operating income increased 40% to $2.14 billion. Adjusted EBITDA increased 33% to $2.82 billion.
Uber generated approximately $2.86 billion of operating cash flow and $2.79 billion of free cash flow in Q2. During the first half of 2026, operating cash flow reached $5.21 billion and free cash flow totaled $5.08 billion.
That quarterly generation helped push trailing-12-month free cash flow above $10 billion for the first time. Management said the expanding cash base provides flexibility to continue investing in future growth, pursue strategic opportunities and reduce the company’s share count.
Uber spent approximately $518 million repurchasing common stock during Q2 and about $3.53 billion during the first six months of 2026.
The company ended Q2 with $5.4 billion of unrestricted cash, cash equivalents and short-term investments.
Uber is directing a portion of that financial capacity toward autonomous vehicles. CEO Dara Khosrowshahi said the company is accelerating its cross-platform strategy globally while seeking to build what Uber describes as the world’s largest autonomous-vehicle platform.
GAAP net income was $2.39 billion, although the result included a $1.6 billion pre-tax benefit from revaluations of Uber’s equity investments. Non-GAAP net income increased 29% to $1.65 billion and non-GAAP EPS increased 35% to $0.81.
For Q3, Uber expects gross bookings of $58.25 billion to $60.25 billion, representing 18% to 22% constant-currency growth, and non-GAAP EPS of $0.84 to $0.88. That EPS outlook translates to adjusted EBITDA of approximately $2.86 billion to $2.96 billion.
The combination of accelerating user acquisition and more than $10 billion of trailing free cash flow gives Uber the ability to fund newer initiatives such as autonomous mobility while continuing to invest in its established Mobility and Delivery marketplaces and return capital through buybacks.
KEY QUOTES:
“Uber’s platform advantage continues to compound: record consumers and engagement, and profitable growth across our business. In fact, we’ve added more first-time users over the past twelve months than in any period over the past five years. We’re investing from a position of strength, as we accelerate our cross-platform strategy at a global scale and build the world’s largest platform for autonomous vehicles.”
Dara Khosrowshahi, CEO of Uber
“We continue to convert strong top-line growth into faster earnings and significant cash generation. Gross Bookings grew 22%, Non-GAAP EPS grew 35%, and trailing twelve-month free cash flow exceeded $10 billion for the first time in Uber’s history—giving us the flexibility to both invest for the future and pursue strategic opportunities, while continuing to reduce our share count.”
Balaji Krishnamurthy, CFO of Uber
