Uber Q3 bookings forecast of $59.25 billion misses estimates

Uber's latest quarterly report left investors weighing softer-than-expected third-quarter guidance against continued growth and a larger autonomous vehicle push, while Bill Ackman publicly backed the stock's valuation after Pershing Square kept it among its biggest holdings. Uber forecast third-quarter gross bookings of $58.25 billion to $60.25 billion, with a midpoint of $59.25 billion that missed the $59.33 billion analyst estimate cited by StreetAccount, and projected adjusted earnings per share of 84 cents to 88 cents, below the 89-cent average estimate compiled by LSEG. The company reported second-quarter revenue of $14.19 billion, up 12%, while net income rose to $2.39 billion from $1.35 billion a year earlier, total gross bookings increased 24% to $58.02 billion, and travel tied to the FIFA World Cup helped demand across host cities in the United States, Canada and Mexico. Uber has said it plans to commit more than $10 billion in coming years to scale autonomous vehicles and is also working through its $14.8 billion agreement to acquire Delivery Hero. Ackman, who disclosed an Uber stake in February 2025 and later revealed a position of more than 30 million shares, agreed with a social media post arguing the stock looked attractive at current levels despite concerns about robotaxi disruption. Pershing Square started 2025 with 30,301,161 Uber shares, ranking as its top holding at more than $2.2 billion and 19% of assets, then trimmed the stake modestly over time. In the most recently reported first quarter, the fund held 29,958,771 shares worth $2.15 billion, making Uber its third-largest position at 16% of assets, behind Brookfield and Amazon by portfolio weight. Uber shares were recently up 3.8% at $70.74 on Thursday, within a 52-week range of $65.41 to $101.94, and down 14.6% year-to-date.