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季報 季度報告 10-Q 2026-08-05

Uber第二季收入增12%至142億美元 擬148億歐元收購Delivery Hero

於 SEC 網站開啟原文

AI 繁中摘要

Uber（優步）公布截至2026年6月30日止第二季度業績（10-Q申報）。受惠於出行及送餐業務持續增長，集團期內收入與盈利均錄得強勁表現，並有多項重大戰略交易值得投資者留意。📊 **業績重點（未經審核）** 第二季度收入為141.91億美元，按年增長約12%（2025年同期為126.51億美元）。上半年累計收入273.94億美元，按年增長約13%。期內歸屬於Uber的淨利潤為23.94億美元，遠高於去年同期的13.55億美元，主要受惠於持有Delivery Hero股權重估帶來的一次性收益。經調整後，第二季度每股攤薄盈利為1.17美元。 分部表現方面，出行（Mobility）及送餐（Delivery）業務繼續是增長引擎，貨運（Freight）業務則保持穩定。集團上半年經營現金流為52.13億美元，現金及等價物（含受限制現金）合共71.77億美元，流動性充裕。 **重大交易及戰略動作** 🔄 1. **收購Delivery Hero**：集團於2026年7月16日宣佈，將以每股41.50歐元（約148億美元股權價值）全面要約收購德國送餐平台Delivery Hero，預計2027年下半年完成。集團期內已增持Delivery Hero至24.99%股權（涉資約23億美元），並改用權益法入帳。為配合收購，集團已簽訂142億歐元過橋貸款協議。 2. **收購Blacklane**：2026年3月宣佈以約5.5億美元現金收購總部位於柏林的全球豪華轎車服務供應商，預計2026年底完成。 3. **持有股份變動**：Lime已完成IPO，相關投資公允價值提升；集團亦簽訂16億美元總回報互換（TRS），以對沖Delivery Hero股價波動。 **投資者關注要點** ⚠️ - Delivery Hero收購屬重大戰略部署，將顯著擴大集團在全球送餐市場的版圖，但同時增加債務負擔，投資者需留意日後槓桿比率變化及整合風險。 - 集團上半年動用約35億美元回購股份，反映管理層對業務前景的信心。 - 期內因股權投資公平值變動錄得大額非現金收益，核心經營利潤表現需獨立審視。 **前景展望**：管理層預期，隨著出行需求持續強勁、送餐業務渗透率提升，加上新收購項目帶來的協同效應，集團將繼續投資於新產品及技術發展，並維持穩健的現金流創造能力。惟環球經濟不確定性、監管風險及行業競爭仍是不容忽視的挑戰。
展開英文正文 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________ 
FORM 10-Q
____________________________________________ 
(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2026
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from_____ to _____
Commission File Number: 001-38902 
____________________________________________ 
UBER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
____________________________________________________________________________ 

Delaware45-2647441
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

 1725 3rd Street
San Francisco, California 94158
(Address of principal executive offices, including zip code)
(415) 612-8582
(Registrant’s telephone number, including area code)
____________________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.00001 per shareUBERNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒     No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒
Accelerated filer☐

Non-accelerated filer☐
Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No  ☒
The number of shares of the registrant's common stock outstanding as of July 31, 2026 was 2,042,560,121.

UBER TECHNOLOGIES, INC.
TABLE OF CONTENTS

Pages

Special Note Regarding Forward-Looking Statements
2

PART I - FINANCIAL INFORMATION
4

Item 1.Financial Statements (unaudited)
4

Condensed Consolidated Balance Sheets as of December 31, 2025 and June 30, 2026
4

Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2025 and 2026
5

Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2025 and 2026
6

Condensed Consolidated Statements of Redeemable Non-Controlling Interests and Equity for the Three and Six Months Ended June 30, 2025 and 2026
7

Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2026
9

Notes to Condensed Consolidated Financial Statements
11

Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations
33

Item 3. Quantitative and Qualitative Disclosures About Market Risk
46

Item 4.Controls and Procedures
47

PART II - OTHER INFORMATION
49

Item 1. Legal Proceedings
49

Item 1A. Risk Factors
49

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
84

Item 5.Other Information
85

Item 6.Exhibits
85

Signatures
87

1

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following:
•our ability to successfully defend litigation and government proceedings brought against us, including with respect to our relationship with drivers and couriers, and the potential impact on our business operations and financial performance if we are not successful;
•our ability to successfully compete in highly competitive markets;
•our expectations regarding financial performance, including but not limited to revenue, achieving or maintaining profitability, ability to generate or maintain positive Free Cash Flow, expenses, and other results of operations;
•our expectations regarding future operating performance, including but not limited to our expectations regarding future Monthly Active Platform Consumers (“MAPCs”), Trips, Gross Bookings, and Revenue Margin (defined as revenue as a percentage of Gross Bookings);
•our expectations regarding our competitors’ use of incentives and promotions and the effects of such incentives and promotions on our growth and results of operations;
•our anticipated investments in new products and offerings, and the effect of these investments on our results of operations;
•our anticipated capital expenditures and our estimates regarding our capital requirements;
•our ability to close and integrate acquisitions into our operations;
•anticipated technology trends and developments and our ability to address those trends and developments with our products and offerings;
•the size of our addressable markets, market share, category positions, and market trends, including our ability to grow our business;
•the safety, affordability, and convenience of our platform and our offerings;
•our ability to identify, recruit, and retain skilled personnel, including key members of senior management;
•our ability to effectively manage our growth and maintain and improve our corporate culture;
•our expected growth in the number of platform users, and our ability to promote our brand and attract and retain platform users;
•our ability to maintain, protect, and enhance our intellectual property rights;
•our ability to introduce new products and offerings and enhance existing products and offerings;
•our ability to successfully enter into new geographies, expand our presence in countries in which we are limited by regulatory restrictions, and manage our international expansion;
•our ability to successfully renew licenses to operate our business in certain jurisdictions;
•our ability to successfully respond to global economic conditions, including rising inflation and interest rates;
•the availability of capital to grow our business;
•volatility in the business or stock price of our minority-owned entities;
•our ability to meet the requirements of our existing debt and draw on our line of credit;
•our ability to prevent disturbances, including cybersecurity incidents, to our information technology systems;
•our ability to comply with existing, modified, or new laws and regulations applying to our business; 
•the impact of a catastrophic event such as a disease, weather event, war, or terrorist attack on our business, results of operations, financial position and cash flows; and
•our ability to implement, maintain, and improve our internal control over financial reporting.
2

Actual events or results may differ from those expressed in forward-looking statements. As such, you should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, prospects, strategy, and financial needs. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, assumptions, and other factors described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a highly competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this Quarterly Report on Form 10-Q. While we believe that such information provides a reasonable basis for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
The forward-looking statements made in this Quarterly Report on Form 10-Q speak only as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information, actual results, revised expectations, or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share amounts which are reflected in thousands, and per share amounts)
(Unaudited)

As of December 31, 2025As of June 30, 2026
Assets
Cash and cash equivalents$7,105 $4,870 
Short-term investments528 521 
Restricted cash and cash equivalents631 661 
Accounts receivable, net3,827 4,298 
Prepaid expenses and other current assets1,902 2,179 
Total current assets13,993 12,529 
Restricted cash and cash equivalents1,911 1,646 
Restricted investments8,874 9,486 
Investments9,178 8,759 
Equity method investments287 3,773 
Property and equipment, net1,897 1,809 
Operating lease right-of-use assets1,114 1,558 
Intangible assets, net1,048 1,132 
Goodwill8,931 9,472 
Deferred tax assets10,951 10,162 
Other non-current assets3,618 5,475 
Total assets$61,802 $65,801 
Liabilities, redeemable non-controlling interests and equity
Accounts payable$1,013 $1,366 
Short-term insurance reserves3,387 3,758 
Operating lease liabilities, current169 178 
Short-term debt— 1,997 
Accrued and other current liabilities7,751 7,572 
Total current liabilities12,320 14,871 
Long-term insurance reserves9,076 9,528 
Long-term debt, net of current portion10,521 10,726 
Operating lease liabilities, non-current1,390 1,830 
Other non-current liabilities412 447 
Total liabilities33,719 37,402 
Commitments and contingencies (Note 11)
Redeemable non-controlling interests165 180 
Equity
Common stock, $0.00001 par value, 5,000,000 shares authorized for both periods, 2,067,905 and 2,039,994 shares issued and outstanding, respectively
— — 
Additional paid-in capital38,101 35,698 
Accumulated other comprehensive loss(432)(432)
Accumulated deficit(10,628)(7,950)
Total Uber Technologies, Inc. stockholders' equity27,041 27,316 
Non-redeemable non-controlling interests877 903 
Total equity27,918 28,219 
Total liabilities, redeemable non-controlling interests and equity$61,802 $65,801 

The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share amounts which are reflected in thousands, and per share amounts)
(Unaudited)

Three Months Ended June 30,Six Months Ended June 30,
2025202620252026
Revenue$12,651 $14,191 $24,184 $27,394 
Costs and expenses
Cost of revenue, exclusive of depreciation and amortization shown separately below7,611 7,815 14,548 15,073 
Operations and support696 805 1,364 1,568 
Sales and marketing1,210 1,515 2,267 2,841 
Research and development840 1,043 1,655 1,994 
General and administrative669 935 1,326 1,733 
Depreciation and amortization175 188 346 372 
Total costs and expenses11,201 12,301 21,506 23,581 
Income from operations1,450 1,890 2,678 3,813 
Interest expense(108)(127)(213)(235)
Interest income181 172 350 347 
Other income (expense), net(19)1,342 74 (152)
Income before income taxes and loss from equity method investments1,504 3,277 2,889 3,773 
Provision for (benefit from) income taxes142 840 (260)1,034 
Loss from equity method investments(12)(21)(25)(41)
Net income including non-controlling interests1,350 2,416 3,124 2,698 
Less: net income (loss) attributable to non-controlling interests, net of tax(5)22 (7)41 
Net income attributable to Uber Technologies, Inc.$1,355 $2,394 $3,131 $2,657 
Net income per share attributable to Uber Technologies, Inc. common stockholders:
Basic$0.65 $1.18 $1.50 $1.30 
Diluted$0.63 $1.17 $1.46 $1.29 
Weighted-average shares used to compute net income per share attributable to common stockholders:
Basic2,091,106 2,036,458 2,091,781 2,044,279 
Diluted2,125,628 2,050,225 2,124,181 2,060,763 

The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
(In millions)
(Unaudited)

Three Months Ended June 30,Six Months Ended June 30,
2025202620252026
Net income including non-controlling interests$1,350 $2,416 $3,124 $2,698 
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustment52 (7)83 3 
Change in unrealized loss on investments in available-for-sale debt securities(2)(7)(1)(19)
Change in unrealized gain on cash flow hedges— 3 — 16 
Other comprehensive income (loss), net of tax50 (11)82 — 
Comprehensive income including non-controlling interests1,400 2,405 3,206 2,698 
Less: comprehensive income (loss) attributable to non-controlling interests(5)22 (7)41 
Comprehensive income attributable to Uber Technologies, Inc.$1,405 $2,383 $3,213 $2,657 

The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
(In millions, except share amounts which are reflected in thousands)
(Unaudited)

Redeemable Non-Controlling InterestsCommon StockAdditional Paid-In CapitalAccumulated Other Comprehensive Income (Loss)Accumulated DeficitNon-Redeemable Non-Controlling InterestsTotal Equity
SharesAmount
Balance as of December 31, 2024$93 2,107,953 $— $42,801 $(517)$(20,726)$825 $22,383 
Exercise of stock options— 657 — 8 — — — 8 
Stock-based compensation— — — 448 — — — 448 
Issuance of common stock for settlement of RSUs— 10,293 — — — — — — 
Shares withheld related to net share settlement— (460)— (33)— — — (33)
Repurchase of common stock— (26,587)— (1,800)— — — (1,800)
Re-measurement of non-controlling interests18 — — (18)— — — (18)
Unrealized gain on investments in available-for-sale debt securities, net of tax— — — — 1 — — 1 
Foreign currency translation adjustment— — — — 31 — — 31 
Net income (loss)(18)— — — — 1,780 12 1,792 

Balance as of March 31, 202593 2,091,856 — 41,406 (485)(18,946)837 22,812 
Exercise of stock options— 370 — 7 — — — 7 
Stock-based compensation— — — 489 — — — 489 
Issuance of common stock for settlement of RSUs— 8,809 — — — — — — 
Issuance of common stock under the Employee Stock Purchase Plan— 2,151 — 119 — — — 119 
Shares withheld related to net share settlement— (58)— (5)— — — (5)
Repurchase of common stock— (16,360)— (1,377)— — — (1,377)
Re-measurement of non-controlling interests14 — — (14)— — — (14)
Redemption of non-controlling interest(39)— — — — — — — 
Recognition of non-controlling interest upon acquisition130 — — — — — — — 
Unrealized loss on investments in available-for-sale debt securities, net of tax— — — — (2)— — (2)
Foreign currency translation adjustment1 — — — 52 — — 52 
Net income (loss)(16)— — — — 1,354 12 1,366 

Balance as of June 30, 2025$183 2,086,768 $— $40,625 $(435)$(17,592)$849 $23,447 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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UBER TECHNOLOGIES, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
(In millions, except share amounts which are reflected in thousands)
(Unaudited)

Redeemable Non-Controlling InterestsCommon StockAdditional Paid-In CapitalAccumulated Other Comprehensive Income (Loss)Accumulated DeficitNon-Redeemable Non-Controlling InterestsTotal Equity
SharesAmount
Balance as of December 31, 2025$165 2,067,905 $— $38,101 $(432)$(10,628)$877 $27,918 
Exercise of stock options— 63 — 1 — — — 1 
Stock-based compensation— — — 484 — — — 484 
Issuance of common stock for settlement of RSUs— 8,721 — — — — — — 
Shares withheld related to net share settlement— (525)— (39)— — — (39)
Repurchase of common stock— (39,740)— (3,010)— — — (3,010)
Re-measurement of non-controlling interests10 — — (10)— — — (10)

Unrealized loss on investments in available-for-sale debt securities, net of tax— — — — (12)— — (12)
Unrealized gain on cash flow hedges— — — — 13 — — 13 
Foreign currency translation adjustment— — — — 10 — — 10 
Net income (loss)(4)— — — — 273 13 286 

Balance as of March 31, 2026171 2,036,424 — 35,527 (421)(10,355)890 25,641 
Exercise of stock options— 109 — 5 — — — 5 
Stock-based compensation— — — 563 — — — 563 
Issuance of common stock for settlement of RSUs— 8,257 — — — — — — 
Issuance of common stock under the Employee Stock Purchase Plan— 2,158 — 136 — — — 136 
Shares withheld related to net share settlement— (69)— (5)— — — (5)
Repurchase of common stock— (6,885)— (517)— — — (517)
Re-measurement of non-controlling interests11 — — (11)— — — (11)

Unrealized loss on inv