Uber Reports Q2 Profit and Announces Robotaxi Expansion

Uber Technologies Inc. reported second-quarter revenue of $14.19 billion, a 12% year-over-year increase, with earnings per share of 81 cents. Total bookings reached $58 billion, surpassing Wall Street estimates, though trips grew 18% to 3.87 billion, missing projections. CEO Dara Khosrowshahi attributed ride-hail growth to the World Cup, which brought over 8 million tourists to the U.S., Canada, and Mexico, while noting that competition from Chinese rivals Didi Global Inc. and Meituan in Brazil moderated trip growth.

To scale its delivery and autonomous operations, Uber entered a $14.8 billion agreement to acquire Delivery Hero and pledged over $10 billion toward autonomous vehicle technology. The company announced a partnership with Wayve Technologies Ltd. to launch robotaxis in London and intends to expand the service to 15 cities, including Tokyo, Madrid, and Los Angeles, by the end of the year. Conversely, Uber and Waymo will end an exclusive agreement in Atlanta and Austin by early 2028.

Despite the second-quarter performance, Uber issued a third-quarter bookings outlook of $58.25 billion to $60.25 billion, which fell below some analyst expectations. Khosrowshahi positioned the company as the leading commercialization platform for autonomous driving, emphasizing that commercial success requires more than just the technology, including fleet operations, insurance, and regulatory engagement.