Uber Reports Solid $13.5B Q3 Revenue Growth Amid Mixed Guidance

Uber reported strong third-quarter earnings, surpassing revenue expectations with $13.5 billion, a 20% increase year-over-year, and gross bookings rising 21% to $49.7 billion, exceeding analyst estimates. The company posted an EPS of $3.11, boosted by significant tax valuation and equity investment revaluations, though adjusted EBITDA of $2.26 billion slightly missed forecasts. Despite this solid performance, Uber's guidance for Q4 showed mixed signals, with gross bookings projected between $52.25 billion and $53.75 billion, but adjusted EBITDA guidance falling just below consensus, causing premarket shares to drop. Strategic autonomous vehicle partnerships, including collaborations with Lucid for a robotaxi service in San Francisco and Nvidia to build a network of nearly autonomous Level 4 vehicles, highlight Uber's push towards automation and future growth. Analysts remain optimistic about Uber's competitive positioning and profitability across mobility and delivery sectors, reflected in a 62% year-to-date stock price gain and a substantial $20 billion stock buyback plan. Investors will closely watch the company's earnings call for further details on its autonomous initiatives and financial outlook.