$UBER · Uber Technologies

Communication Services / Mobility platformSPX100

EPS 0–0

DIR 0–0

MAE +6.5%

Latest call · 2026-05-05

✓ Scored · earnings 2026-05-06 BMO

The call

EPS

$0.78

BEAT· +9.9% vs street

Direction

🟢 UP

1d +2.0% · 3d +3.5%

Confidence

MEDIUM

Positioning: hype_neutral

Spot at call

$73.77

as of 2026-05-05

Head-to-head · Claude vs the Street vs reality

	Claude	Street	Actual
EPS	$0.78	$0.71	—
Revenue	$13.45B	$13.27B	—
Direction (1d)	🟢 UP	🟢 UP 36B · 5H · 0S	🟢 UP
1d move	+2.0%	—	+8.5%
3d move	+3.5%	—	—

EPS — Direction Tie

Thesis

Pre-print de-risked (-5% past 10d, RSI 47) into a print where management's own Q1 GB guide ($52-53.5B) leaves headroom for a high-end beat on Mobility + Delivery resilience. Waymo unit-economics disclosure on the call is the discrete upside amplifier — Austin/Atlanta robotaxi data is now 12+ months mature.

What would flip it

Q2 GB guide midpoint lands soft on AV cannibalization fear — flips the setup to flat.

💡 Pre-print de-risk + GB-high-end-beat setup. Long into print, target +2% 1d, hold for Waymo unit-econ commentary.

The market's narrative

Pre-print de-risked (-5% past 10 days, RSI 47, sub-50EMA $80.31) into a print where management's own Q1 guide ($52-53.5B GB, $2.37-2.47B EBITDA) leaves room for high-end beats; the Waymo unit-economics question is the call's dominant Q&A vector.

Where the Street may be wrong

Q1 GB likely lands at $53.5-54.0B (above guide top-end) on Mobility resilience + Delivery cohort acceleration — the ceiling-of-guide beat is the clean operational-metric trigger.
Waymo-on-Uber take-rate / contribution margin disclosure on the call would re-rate the AV-partnership-as-accretive thesis — Khosrowshahi has historically dropped concrete unit-econ numbers when the data is ready.

Peer read: MA 4/29 (+4.6% on $4B buyback + cross-border vol +13%) — UBER is the equivalent operational-execution name with active $3.5B buyback remaining + cross-platform user growth.

Reasoning

Pre-print de-risk -5% over 10 days with RSI 47 = positioning pressure relieved, beat-and-raise unlocks +2-3% (CDNS pre-print de-risk rule applied).
Mobility GB guidance midpoint (~$52.75B) was conservative on prior consumer-spend-soft narrative; April spend trackers suggest GB lands at $53.5-54B = high-end-of-guide beat.
Adj EBITDA likely $2.50B+ vs $2.42B midpoint guide on Mobility take-rate stability + Delivery contribution margin step-up.
Waymo-on-Uber unit-economics disclosure ON THE CALL would be the discrete amplifier — Austin/Atlanta robotaxi data is now 12+ months mature.
$1.49 EPS Claude est vs Street $1.49 — wait, that's wrong. EPS Claude $0.78 vs Street $0.71 = 10% beat magnitude on profitability flow-through.

Risks to the call

Q2 GB guide midpoint lands soft (<$54B) on AV cannibalization fear — flips +2% to flat.
Waymo unit-economics commentary turns dilutive (suggests AV rides cannibalize Mobility take-rate) — bear case extension.