Uber CEO Dara Khosrowshahi speaks during the Uber America250 Party on July 02, 2026 in Washington, DC.

Uber Technologies shares fell early Wednesday, despite the ride-hailing company registering earnings a tad above Wall Street estimates in the second quarter as a jump in passengers and deliveries boosted revenue.

Uber said adjusted earnings per share rose 35% from the same period a year ago to 81 cents, beating analysts' consensus of 80 cents, according to FactSet.

Revenue rose 12% to $14.2 billion, marginally below analyst estimates, as the value of trips taken increased 18% from last year to $3.9 billion. Gross bookings, which track the value of all rides and deliveries, grew 24% to $58 billion.

"Uber's platform advantage continues to compound: record consumers and engagement, and profitable growth across our business," said Dara Khosrowshahi, Uber chief executive officer. "In fact, we've added more first-time users over the past twelve months than in any period over the past five years."

The company is continuing to invest in building what it believes will be the "world's largest platform for autonomous vehicles," Khosrowshahi added.

Uber said it anticipated for the third quarter gross bookings of $58.25 billion to $60.25 billion, representing growth of 18% to 22% year-on-year on a constant-currency basis. The company guided for earnings per share over the period of 84 cents to 88 cents.

According to FactSet, analysts expected gross bookings of $59.3 billion for the third quarter and an EPS of 87 cents.

Uber shares (UBER) had been higher in premarket trade but turned lower to trade down 3% at $69.79. The stock has shed 11.9% this year as some investors worry that the company may face competition from other robotaxi platforms.

However, prior to Wednesday's earnings release, analysts' average share price forecast for Uber was $104.70, according to FactSet.

-Jamie Chisholm