New York, Feb 5, 2026, 12:45 EST — Regular session underway.
- Uber’s forecast for first-quarter gross bookings and non-GAAP EPS drew attention to margin pressures and how quickly the company plans to ramp up spending on autonomous vehicles. (Nasdaq)
- Uber announced that CFO Prashanth Mahendra-Rajah will resign on Feb. 16, with Balaji Krishnamurthy named as his successor. (MarketScreener)
Shares of Uber Technologies Inc climbed roughly 3.9% to $76.80 in midday trading Thursday, bouncing back from a steep selloff following earnings the previous day.
Uber’s stock dropped about 5% Wednesday after the company forecast first-quarter adjusted earnings per share between 65 and 72 cents, falling short of the 76-cent consensus from Wall Street, according to LSEG data. Its fourth-quarter adjusted EPS of 71 cents also missed expectations. The company announced plans to scale its robotaxi operations, targeting new markets including Madrid, Hong Kong, Houston, and Zurich. Uber projects first-quarter gross bookings—covering rides, deliveries, and other services—between $52 billion and $53.5 billion, beating estimates. (Reuters)
In prepared remarks, Uber disclosed a reporting shift linked to a UK tax law ruling that moved its London-area business from a “merchant” to an “agency” model. This change reclassifies driver payments, leading to lower reported revenue and a narrower revenue margin. The company said Mobility revenue margin will drop by about 350 basis points—3.5 percentage points—entirely due to this accounting adjustment. Uber also flagged a higher expected effective tax rate of 22% to 25% in 2026 and announced new non-GAAP reporting changes starting with the first-quarter release. (Q4 Capital)
A separate update introduced another twist. Uber revealed in an SEC filing that CFO Prashanth Mahendra-Rajah will leave on Feb. 16, with Balaji Krishnamurthy stepping in as CFO. The company emphasized that the departure wasn’t linked to any disputes over financial disclosures or accounting. CEO Dara Khosrowshahi described Krishnamurthy as “trusted by investors.” The filing also outlined a $600,000 base salary plus equity awards tied to the new role. (SEC)
Uber showed mixed results. Trips climbed 22% year-on-year to 3.8 billion in Q4, with gross bookings also up 22% to $54.1 billion. Revenue increased 20% to $14.4 billion. Adjusted EBITDA came in at $2.5 billion, and free cash flow hit $2.8 billion. Net income was $296 million, weighed down by a $1.6 billion charge from revaluing equity investments. (Uber Investor Relations)
BofA Securities trimmed its price target on Uber to $103 from $110 but stuck with a buy rating. The firm described the current valuation as “an attractive entry point on AV fears,” highlighting a new autonomous-vehicle partner and key launch catalysts anticipated in 2026. (Investing.com Nigeria)
Citizens grew more upbeat on Uber. Analyst Andrew Boone raised his rating to Market Outperform, pegging a $100 price target. He said Uber’s “better valuation” offsets concerns over competition, though he flagged Tesla as a potential “lowest cost provider” in robotaxis. Boone also praised Uber for “doing an exceptional job” building a network of autonomous-vehicle partners it can pool over time. (Investing.com UK)
It’s not just companies making headlines this week on autonomous vehicles. U.S. lawmakers, along with Waymo and Tesla, are pressing Congress to advance long-delayed legislation aimed at accelerating self-driving car deployment. This push could shake up the timeline for commercial launches and reshape the competitive landscape that Uber is maneuvering within. (Reuters)
That said, risks remain. Shifting focus to lower-cost rides could squeeze margins. Changes in taxes and reporting rules might muddy quarterly comparisons. And robotaxi rollouts could run into regulatory hurdles or safety concerns. If any of these hit, investors might continue viewing Uber’s AV gamble as a liability, not a growth driver.
Feb. 16 marks the next key date, as Krishnamurthy steps in as CFO. Traders are also keen to see if Uber reveals new plans for financing early autonomous vehicle supply without hurting cash flow. (Cfodive)
