Did Uber’s Strong Q3 Earnings and New Grocery Partnerships Just Shift UBER’s Investment Narrative?

• Uber Technologies recently reported strong third-quarter 2025 results, with revenue of US$13.47 billion and net income of US$6.63 billion, while announcing new partnerships, including expanded grocery delivery with Loblaw across Canada and integrations with restaurant and pharmacy platforms.
• These developments highlight Uber's shift from a high-growth startup to a mature, diversified technology platform focused on strengthening its position in mobility, delivery, and autonomous vehicles.
• We'll examine how Uber's expanded grocery partnerships and earnings performance influence its investment narrative and future growth strategy.

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Uber Technologies Investment Narrative Recap

For investors, the Uber thesis centers on believing the multi-platform strategy, blending ride-hailing, delivery, and autonomous technologies, can drive sustainable profit and margin growth while weathering competitive and regulatory headwinds. Although the recent partnerships and third-quarter results signal progress, the most important near-term catalyst remains continued momentum in active users and profit margins, while the biggest risk is Uber’s capital-intensive push into autonomous vehicles; these news events do not materially reduce that risk profile in the short term.

Among the many recent announcements, Uber’s expanded partnership with Loblaw to launch nationwide grocery delivery in Canada stands out, as it reinforces the company’s goal to deepen engagement across local commerce and diversify revenue streams. This broadened delivery focus could supplement user and gross booking growth, especially as Uber seeks to maintain critical mass in both Mobility and Delivery segments, linking directly back to the platform integration catalysts underpinning the investment story.

However, it’s important to remember that while broadening services has benefits, the risk of unproven profitability in autonomous vehicles remains a concern investors should be aware of, especially if...

Read the full narrative on Uber Technologies (it's free!)

Uber Technologies' outlook projects $71.2 billion in revenue and $9.7 billion in earnings by 2028. This assumes a 14.6% annual revenue growth rate, but a decrease in earnings of $2.9 billion from current earnings of $12.6 billion.

Uncover how Uber Technologies' forecasts yield a $108.88 fair value, a 18% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members provided 56 fair value estimates for Uber Technologies, with targets ranging from US$75 to US$172.97. While these perspectives vary, Uber's rapid expansion into new delivery and AV partnerships may shape future outcomes, so consider these diverse viewpoints when assessing potential upside or downside.

Explore 56 other fair value estimates on Uber Technologies - why the stock might be worth 18% less than the current price!

Build Your Own Uber Technologies Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Uber Technologies research is our analysis highlighting 5 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Uber Technologies research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Uber Technologies' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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