UBER · Forward model · Mobility
What has to happen in Mobility
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Mobility
Basis quarter$7.36B
Final quarter$14.13B
Implied CAGR+14%
Final revenue mix47%
Rides. Revenue is Gross Bookings times the revenue margin Uber itself defines and publishes, and both halves are disclosed every quarter. Autonomy lives here rather than in a line of its own, because an AV trip is a Mobility trip on a different cost base.
Last four quarters
2025 Q3
$7.68B
Reported
2025 Q4
$8.20B
Reported
2026 Q1
$6.80B
Reported
2026 Q2
$7.36B
Reported
RidesFinancial partnerships productsAdvertising
Units
28988/qtr
growing +3.2% per quarter
Mobility Gross Bookings, $28,988M in the June quarter. Units here are millions of dollars of bookings.
Price per unit
$253999
drifting +0.2% per quarter
Revenue per $1M of bookings: a 25.40% revenue margin, which is Uber's own defined measure.
Mobility
Latest: $14.13B (2031Q2E)
| Period | Value |
|---|---|
| 2024Q1 | $5.63B |
| 2024Q2 | $6.13B |
| 2024Q3 | $6.41B |
| 2024Q4 | $6.91B |
| 2025Q1 | $6.50B |
| 2025Q2 | $7.29B |
| 2025Q3 | $7.68B |
| 2025Q4 | $8.20B |
| 2026Q1 | $6.80B |
| 2026Q2 | $7.36B |
| 2026Q3E | $7.62B |
| 2026Q4E | $7.88B |
| 2027Q1E | $8.15B |
| 2027Q2E | $8.42B |
| 2027Q3E | $8.71B |
| 2027Q4E | $9.00B |
| 2028Q1E | $9.30B |
| 2028Q2E | $9.61B |
| 2028Q3E | $9.93B |
| 2028Q4E | $10.25B |
| 2029Q1E | $10.59B |
| 2029Q2E | $10.94B |
| 2029Q3E | $11.30B |
| 2029Q4E | $11.67B |
| 2030Q1E | $12.05B |
| 2030Q2E | $12.44B |
| 2030Q3E | $12.84B |
| 2030Q4E | $13.26B |
| 2031Q1E | $13.69B |
| 2031Q2E | $14.13B |
Assumptions & reasoning
- The June 2026 revenue margin of 25.40% is not comparable to the 29.90% a year earlier: a business-model change moved several markets to net revenue recognition, which the company says cut total revenue growth by 8 percentage points with no effect on bookings or profit.
- Autonomy is deliberately not a separate vertical. Uber discloses no AV revenue, and an autonomous trip that replaces a human one already sits inside these Gross Bookings - a separate line would count the same trip twice.
- Uber's stated multi-year autonomy commitment of more than $10 billion across equity, fleet offtake and infrastructure is press-reported rather than disclosed on a schedule, so this model books no separate programme for it. At $10bn it is about $4.80 a share if it returned nothing.