SAN FRANCISCO, September 3, 2026, 06:19 PDT —
- Uber ended ride services in Nigeria and Uganda on September 2.
- The withdrawals cut its reported African country footprint from six markets to four.
- Uber traded at $77.12 at 09:19 EDT, up 0.9% from Wednesday’s close.
Uber Technologies, Inc. NYSE:UBER shares rose 0.9% before Thursday’s open. The move followed its withdrawal from Nigeria and Uganda. The exits cut its reported African country footprint by one-third.
The stock reaction points to pruning, not a demand shock. Uber operated in more than 70 countries at June 30. Country-level revenue remains undisclosed Uber’s quarterly filing.
Uber reached $77.12 at 09:19 EDT in premarket trade. That was $0.67 above Wednesday’s $76.45 close. The shares had already gained 1.6% in Wednesday’s session Yahoo Finance.
Uber premarket price
$76.45 prior close; dollars per share
Uber stopped both services on September 2. Nigeria’s operation lasted 12 years. Uganda’s ran for about a decade Reuters.
The company gave no financial reason for leaving. Nigerian operators have faced higher fuel costs, inflation and currency swings. Competition from Bolt, inDrive and local services also intensified.
“Uber remains deeply committed to Sub-Saharan Africa,” spokesperson Lorraine Onduru said. She heads communications for East and West Africa. The decision affects only Nigeria and Uganda Voice of Nigeria.
The footprint test
The African count falls 33%, while the global count changes by less than 3%. Sources: Africanews and Uber 10-Q.
The geographic reduction looks large locally. It is small against Uber’s global map. The global country count declines by less than 3% on disclosed figures.
The revenue effect cannot be isolated. Uber groups Africa with Europe and the Middle East. That region produced $3.75 billion of second-quarter revenue, down 3.7% year on year.
A $1.1 billion UK accounting change distorted that comparison. It reduced reported revenue without the same underlying booking decline. The exits should therefore be judged through Mobility profit, not regional revenue alone.
Second-quarter bookings mix
Gross bookings totaled $58.02 billion in the quarter ended June 30, 2026.
Source: Uber Q2 2026 results. Percentages are calculated from reported segment bookings.
Mobility generated $28.99 billion of bookings last quarter. Segment operating income reached $2.22 billion, up 28%. Removing weak markets can protect that operating leverage.
Uber’s broader platform remains the counterweight. Trips rose 18% to 3.87 billion. Adjusted EBITDA increased 33% to $2.82 billion company results.
Chief Financial Officer Balaji Krishnamurthy said free cash flow exceeded $10 billion over 12 months. That gives Uber room to “invest for the future” while reducing its share count.
The next test is third-quarter delivery. Uber guides to $58.25 billion to $60.25 billion of gross bookings. Non-GAAP earnings are forecast at $0.84 to $0.88 per share.
Risks: Uber may incur employee, driver and support costs during the wind-down. An abrupt exit could also damage local regulatory ties. Missing country data makes the margin benefit impossible to verify.
For now, investors are treating the retreat as targeted. The proof will appear in Mobility profit and sustained booking growth.
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