Uber Stock Surges 7% on Strong Q1 Bookings Performance

Uber Technologies Inc. delivered a robust first-quarter performance, with shares rallying 7.8% as gross bookings exceeded Wall Street expectations. The ride-hailing giant reported adjusted earnings of 72 cents per share, outpacing the 69-cent analyst consensus, while revenue climbed 14.4% year-over-year to $13.2 billion.

Gross bookings—the total value of rides and deliveries—jumped 21% to $53.7 billion, surpassing estimates. Delivery revenue showed particular strength, surging 34% to $5.06 billion. The results marked a turnaround for UBER stock, which had declined 11% year-to-date prior to the earnings release.

Adjusted EBITDA reached $2.48 billion, exceeding the company's guidance range. Mobility bookings grew 20%, maintaining its position as Uber's largest revenue segment at 51.5% of total sales.