Uber beats Q3 2026 estimates, targets about 700 driverless vehicles by year-end

Uber reported third-quarter 2026 results on November 4, and the numbers came in above estimates. Gross bookings climbed 20% year-over-year to $59.82 billion, revenue grew 10% to $14.8 billion, and non-GAAP earnings per share hit $0.88.

The bigger story, though, may be the cars with nobody in the front seat. The company plans to have approximately 700 fully driverless vehicles on its platform by the end of 2026. It projects more than 2,000 in 2027.

The quarter, by the numbers

Start with gross bookings, the total dollar value of every ride and delivery ordered through the app. That figure rose 20% from the same quarter a year earlier, to $59.82 billion.

Revenue, which is the slice Uber actually keeps, grew 10% to $14.8 billion. Bookings grew at twice the pace of revenue, which is a gap worth keeping an eye on.

Profitability moved faster than either. Non-GAAP EPS of $0.88 marked a 35% jump from the prior-year quarter. Adjusted EBITDA reached $2.96 billion, up 31% year-over-year.

The usage numbers kept pace. Uber logged 4.1 billion trips in the quarter, a 16% increase from a year ago. Monthly active consumers reached 215 million, up 14%.

Guidance and the driverless push

Uber also looked ahead. For the fourth quarter of 2026, the company guided gross bookings to between $63.25 billion and $65.25 billion. Even the low end of that range sits above the $59.82 billion it just reported.

Adjusted EBITDA guidance for Q4 came in between $3.13 billion and $3.23 billion. That would also top the $2.96 billion posted in Q3.

Then there is the autonomous vehicle plan. CEO Dara Khosrowshahi said the company’s focus is now on commercializing AV technology.

The roadmap calls for approximately 700 fully driverless vehicles by the end of 2026. That number is expected to scale to more than 2,000 in 2027.

Uber is not building these vehicles itself. Its approach leans on partners, including Waymo and Rivian, whose technology and hardware run on Uber’s network.

Why Uber chose partners over its own fleet

Uber has historically favored partnerships over developing its own autonomous fleet. That strategy has let it place AV services in select markets, including the US, the UK and Dubai.

The tradeoff is control. A partner-led model means Uber depends on other companies’ timelines, safety records and regulatory approvals to hit its own targets.

What this means for Uber and its rivals

The profit story is arguably the most important piece. Adjusted EBITDA growing 31% while revenue grew 10% suggests Uber’s operating leverage is real, not a one-quarter fluke.

The slower revenue growth relative to bookings is the one number that may prompt questions. It could reflect pricing, mix shifts between rides and delivery, or incentives, but the figures alone do not say which.

On autonomy, the targets are modest in absolute terms. Approximately 700 vehicles is a rounding error next to 4.1 billion quarterly trips. Even 2,000-plus in 2027 would make driverless rides a small slice of the overall business.

There are clear risks to watch. Regulatory approvals vary by city and country, and AV deployments can be paused after a single high-profile incident. Partner timelines can slip, and Uber’s targets depend on companies it does not control.

The near-term checkpoints are straightforward. The first is whether Q4 bookings land within the $63.25 billion to $65.25 billion range. The second is whether the company reaches approximately 700 fully driverless vehicles by year-end. The third is whether the gap between bookings growth and revenue growth narrows or widens.