Uber just posted the kind of quarter that makes CFOs sleep well at night. The company’s Q2 2026 results landed at $14.2 billion in revenue with non-GAAP earnings per share of $0.81, roughly in line with consensus estimates that ranged from $14.21 to $14.27 billion in revenue and $0.81 to $0.83 in EPS.
But the headline number isn’t revenue. It’s the free cash flow figure. Uber’s trailing twelve-month FCF exceeded $10 billion for the first time in company history, a milestone that transforms the conversation around what Uber does with all that cash.
The numbers behind the milestone
To appreciate where Uber stands, rewind a quarter. In Q1 2026, the company reported $13.2 billion in revenue and non-GAAP EPS of $0.72, with roughly $2.3 billion in free cash flow. The Q2 results represent a sequential revenue jump of about $1 billion, and the year-over-year revenue growth clocks in at approximately 12%.
Quarterly free cash flow has been running in the $2.3 to $2.5 billion range over recent periods. The growth has been driven by both the Mobility and Delivery segments. Uber has also embarked on share repurchase programs and investments in autonomy and artificial intelligence.
