Uber CEO Dara Khosrowshahi said the company achieved $53 billion [2] in gross bookings during the first quarter of 2026.
The results signal the company's attempt to balance immediate financial volatility with a broader strategic pivot toward becoming an "everything app." This shift involves integrating mobility, food delivery, and autonomous-vehicle technology into a single ecosystem.
Speaking on CNBC's "Squawk Box" on May 6, Khosrowshahi said the company is focused on a long-term building strategy. He said that first-quarter gross bookings beat expectations [3]. Despite the growth in bookings, the company's bottom line faced significant pressure. Khosrowshahi said the company's net income took a $1.5 billion [1] hit due to the revaluation of equity investments.
Market reaction to the earnings report was positive, with Uber stock increasing by eight percent [1] following the release. Khosrowshahi said several macroeconomic pressures during the interview, including the impact of the Iran war on global operations.
Beyond the financial figures, the CEO discussed the rollout of autonomous vehicles and the company's ambitions to expand its service offerings. He said that the current phase of growth is about sustainability and infrastructure — preparing the platform for future scale.
"We're building for the long term here," Khosrowshahi said.
The company continues to monitor the balance between its mobility services, and its food delivery sector as it seeks to optimize revenue streams across different markets.
“"We're building for the long term here."”
Uber's financial results highlight a tension between operational growth and investment volatility. While gross bookings and stock price indicate strong consumer demand and investor confidence, the $1.5 billion equity hit underscores the risks associated with its investment portfolio. The focus on an "everything app" and autonomous vehicles suggests Uber is moving away from being a simple ride-sharing service to become a diversified logistics and AI-driven platform.
