**Uber Technologies Reports Strong First-Quarter Growth**
Uber Technologies (NYSE: UBER) reported a 25% year-over-year increase in gross bookings, totaling $53.7 billion for Q1 2026. Revenue rose 14% year over year to over $13 billion, despite an accounting change that affected reported growth. Adjusted operating income surged 42% to $1.9 billion, while adjusted earnings per share rose 44%. The company expects gross bookings growth of 18% to 22% for Q2.
The ride-hailing giant is also focusing on autonomous vehicles, experiencing a more than tenfold increase in autonomous trips year over year. CEO Dara Khosrowshahi stated that Uber plans to roll out autonomous vehicles in up to 15 cities by year-end. The company reported 50 million Uber One members in April, contributing to half of its mobility and delivery gross bookings.
Uber’s free cash flow reached $2.3 billion in the past quarter, highlighting its cash-generative business model. The company continues to integrate with various partners for its autonomous strategy, keeping capital outlays low while navigating a competitive landscape, particularly against companies like Tesla.
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