Uber Technologies grew second-quarter 2026 Gross Bookings by 22% year-over-year on a constant-currency basis, with Trips up 18% year-over-year, according to the company's Q2 2026 earnings press release. The results conference call is scheduled for Wednesday, August 5 at 5:00 a.m. PT, as announced on July 13 (Uber Investor Relations).

A quick definitions note: Gross Bookings is the total dollar value of all rides and deliveries booked through Uber's platform. "Constant-currency" means the growth figure strips out exchange-rate swings, so you can see how the underlying business performed without the noise of a stronger or weaker dollar.

That 22% figure lands at the upper end of the guidance range Uber issued on May 6. Back then, the company guided Q2 Gross Bookings to $56.25 billion to $57.75 billion, representing 18% to 22% constant-currency growth (Uber Investor Relations).

For context, Q1 2026 Gross Bookings grew 25% year-over-year to $53.7 billion, while revenue grew 14% to $13.2 billion, or 10% on a constant-currency basis (Uber Investor Relations). The Q2 growth rate of 22% represents a modest three-percentage-point slowdown from Q1's 25%.

Here is what the Trips figure tells you. Trips grew 18% year-over-year, providing a volume floor beneath the Gross Bookings number. Because Gross Bookings (22%) grew faster than Trips (18%), the average amount spent per trip went up on a constant-currency basis. Think of it as more people using Uber and each person spending a bit more per ride.

Reuters reported on May 6 that Uber forecast second-quarter adjusted EPS (earnings per share) of 78 to 82 cents, slightly above the 79-cent analyst consensus at the time (Reuters). The midpoint of 80 cents sat one cent above what Wall Street expected — a narrow but directional signal that management expected profitability to track with the bookings strength.

The broader context here is the gap between constant-currency growth and reported-dollar growth. In Q1, the 25% Gross Bookings growth and 14% revenue growth compressed to 10% constant-currency revenue growth, reflecting meaningful foreign-exchange headwinds — when the U.S. dollar strengthens against other currencies, revenue earned in those currencies is worth fewer dollars when converted back. For Q2, the 22% constant-currency Gross Bookings figure is the only growth metric in the press release; reported-dollar growth and revenue figures will surface on the call. If the Q2 foreign-exchange gap mirrors Q1's, reported Gross Bookings growth could come in materially below the 22% constant-currency figure.

Another structural data point worth parsing: Uber's revenue growth has lagged Gross Bookings growth significantly. In Q1, the 14-percentage-point spread between Gross Bookings growth (25%) and revenue growth (14%) reflects the difference between Gross Bookings, which captures total transaction value, and revenue, which nets out amounts paid to drivers and couriers. Gross Bookings is the total pie; revenue is Uber's slice after paying its partners. As Uber's mix shifts toward lower take-rate segments — businesses where Uber keeps a smaller percentage of each transaction — this gap can persist or widen even when underlying demand is robust.

In my view, the guidance beat on Gross Bookings combined with the EPS forecast above consensus positions the Q2 print as a confirmation of the trajectory management set in Q1. The slowdown from 25% to 22% constant-currency Gross Bookings growth is modest and consistent with a company still expanding faster than most large-cap technology peers. What the call will need to address: whether the take-rate compression visible in Q1's revenue-to-bookings gap continued into Q2, and how Middle East headwinds, flagged in the Reuters report, factored into the regional mix.