New York, February 3, 2026, 14:11 EST — Regular session
- Shares of Uber dropped roughly 4% during afternoon trading.
- A French social-security dispute brought driver-cost risks back into the spotlight.
- Quarterly results hit Wednesday morning, and investors will be focused on the outlook.
Uber shares dropped 4.1%, slipping to $77.49 by 1:56 p.m. EST, having hit a low of $77.31 earlier in the session. On Monday, the stock had ended at $80.84.
Investors are gearing up for the company’s fourth-quarter and full-year 2025 results, set for Wednesday, as they seek clarity on margins and costs following a new regulatory challenge in Europe. (Uber Investor Relations)
A Reuters report on Monday revealed Uber is negotiating with Urssaf after Revue21 found the agency believes the company should have classified 71,194 drivers as employees from 2019 to 2022. Urssaf is demanding 1.2 billion euros ($1.4 billion) in social-security contributions, plus 512 million euros in penalties, according to the report. “We are currently engaged in a collaborative, transparent, and open discussion,” an Uber spokesperson said. (Reuters)
Analysts expect earnings around 79 cents a share, according to estimates from Refinitiv and S&P Global Market Intelligence gathered by Kiplinger. That leaves little room for error if legal expenses and incentives start to rise. (Kiplinger)
The sell-off also reflected a wider risk-off sentiment hitting U.S. growth stocks. John Campbell from Allspring Global Investments noted that “many areas, especially around AI, are priced for perfection.” Ben Falcone of Kayne Anderson Rudnick added the market is now “less about capex arms races.” (Reuters)
Peers tracked lower. Lyft shares dropped around 4.2%, and DoorDash slipped about 4.0%, signaling a broader pullback in app-based transport and delivery stocks rather than a hit to any single balance sheet.
Uber made a fresh move in Asia on Tuesday, introducing a taxi-booking service in Macau along with limousine rides linking Macau and Hong Kong. This marks its first foray into a new Asian market in years, following its earlier withdrawals from mainland China and Southeast Asia. (The Business Times)
Investors will zero in on gross bookings Wednesday — the total dollar value of rides and deliveries booked through the platform — along with adjusted EBITDA, which excludes certain expenses. The guidance will carry more weight than the actual numbers reported.
The French dispute highlights how courts and regulators can still sway the company’s cost structure. If drivers are reclassified in major markets, labour costs would climb, squeezing the profit margins that have bolstered the stock.
Looking further ahead, autonomy remains a persistent theme. Uber continues to favor partnerships over fleet ownership, teaming up with Lucid Group and Nuro on a robotaxi initiative. Still, the timelines and financial details are murky. (Reuters)
Coming Wednesday, February 4, ahead of the U.S. market open, the company will drop its earnings report and hold a conference call. Traders will zero in on any news about the Urssaf talks and watch closely for mentions of new market launches in the outlook.
