$1.6bn of Uber's $2.4bn second-quarter profit is a mark-up on stakes it holds — a $14.8bn bid for Delivery Hero, and 61% of its Aurora shares are pledged
Q2 2026 10-Q: gross bookings $58.0bn (+24%), revenue $14.2bn (+12%), operating income $1.9bn (+30%). Most of the 77% rise in net income comes from a $1.1bn remeasurement of the Delivery Hero stake and an $899m gain on Aurora, less a $437m loss on Didi. On July 16 Uber agreed to bid €41.50 a share for all of Delivery Hero, targeting closing in the second half of 2027
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Uber Form 10-Q for Q2 2026: statement of operations, 'Other income (expense), net' components note, investments note (Didi, Grab, Aurora, Lime), equity-method investments note (Delivery Hero 24.99%, $1.1bn remeasurement gain), subsequent events (Delivery Hero offer), MD&A key metrics
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Uber (UBER) reported revenue of $14,191m for the second quarter of 2026, up 12% from a year earlier, and operating income of $1,890m. Net income rose 77% to $2,394m — and the other-income table in the 10-Q filed on August 5 shows that the increase came not from operations but from changes in the book value of stakes Uber holds.
What happened
Uber (UBER) is a ride-hailing and delivery platform.
Its Q2 2026 quarterly report (10-Q) shows gross bookings of $58,022m, up 24% from a year earlier, revenue of $14,191m (+12%) and operating income of $1,890m (+30%). Net income was $2,394m, up 77% from $1,355m.
The reason net income grew far faster than operating income is in the other-income table. Q2 gains on debt and equity securities were +$1,612m (−$17m a year earlier). According to the company they comprise a $1.1bn remeasurement gain on the Delivery Hero stake, an $899m gain on Aurora, +$102m on other investments and a $437m loss on Didi. That is 49% of pre-tax income of $3,277m.
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The 10-Q discloses pre-tax gains on securities of $1,612m separately. Subtracting them from pre-tax income of $3,277m leaves $1,665m, 11% above the $1,504m of a year earlier (a simple subtraction; the after-tax effect is not disclosed). Operating income rose 30%. What this composition means is explained in the subscriber section.
How will the Delivery Hero acquisition be funded?
The 10-Q does not say. Cash at June 30 was $4,870m; share repurchases were $3,010m in Q2 and $3,529m in the first half.
Why did the Didi stake fall?
Uber values its non-marketable Didi stake using the closing price of Didi ADSs on the over-the-counter market. The carrying value fell from $3,011m at December 31 to $1,900m at June 30, and a $437m loss was recorded in Q2 other income.
Where can I verify these numbers?
On SEC EDGAR: Uber's Q2 2026 Form 10-Q (accession 0001543151-26-000032), the other-income components table, the investments note, the equity-method (Delivery Hero) note, subsequent events and the MD&A key metrics.
How aiSwingX™ wrote this
We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Uber Form 10-Q for Q2 2026: statement of operations, 'Other income (expense), net' components note, investments note (Didi, Grab, Aurora, Lime), equity-method investments note (Delivery Hero 24.99%, $1.1bn remeasurement gain), subsequent events (Delivery Hero offer), MD&A key metrics · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
