UBER Morgan Stanley TMT 2026

Call Details

• Call Title: Morgan Stanley TMT 2026 Conference - Uber Technologies
• Date: March 3, 2026 at 2:26 AM UTC
• Management Team:
  • Balaji Krishnamurthy (Head of Investor Relations)

Call Summary

Strategic Commentary

• Uber reported that it recently generated $10 billion of free cash flow.
• The company articulated five capital allocation pillars that prioritize disciplined reinvestment in core, targeted AV investment, bolt-on M&A, shareholder returns, and maintaining an investment-grade rating.
• Uber stated that M&A will be selective and focused on bolt-on opportunities with examples including SpotHero and recent Turkey transactions.
• The firm described AVs as a multi-year strategic priority and committed to right-sized investments to stay nimble across the ecosystem.
• The company plans to opportunistically return capital to shareholders and to act more aggressively when stock dislocations appear.
• Uber confirmed it will maintain financial policies and liquidity to preserve an investment-grade rating.

Market / Industry View

• Cross-platform consumers were quantified as driving 3x the gross bookings and profits compared with single-platform consumers.
• Cross-platform penetration was disclosed as 20% of MAPCs engaging across multiple Uber services.
• Grocery and retail gross bookings were described as $12 billion to $13 billion versus a historical food delivery reference point of $14 billion in 2019/2020.
• Overall gross bookings were described as near $100 billion for the company.
• Delivery operates in approximately 32 to 33 countries while mobility operates in approximately 75 countries.
• Uber stated it has #1 delivery positions in several markets including Canada, France, Australia, Japan, Taiwan, Turkey, and the U.K.