Uber Technologies Inc

UBER: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Uber Earnings: Network Effect Is Strengthening; Future AV Capital Expenditure Is an Uncertainty

Mark Giarelli

Nov 4, 2025

Uber's third-quarter earnings exceeded management's forecast for 20% growth in bookings. The firm estimates similar growth for the next quarter and only a 100-basis-point increase in adjusted operating margin, which we suspect is the primary reason for the shares selling off.

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Uber Technologies Inc

Uber Earnings: Network Effect Is Strengthening; Future AV Capital Expenditure Is an Uncertainty

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