Uber is betting its platform can scale robotaxis. The company reported third-quarter revenue of $14.77 billion, up 10% and above the $14.69 billion expected, CNBC reports. Earnings were 25 cents per share versus 96 cents expected, and net income fell 92% to $512 million because last year included a $4.9 billion tax benefit. Shares rose more than 7%.
Mobility revenue fell 2% to $7.52 billion, missing estimates, as rising fuel costs and lower driver availability hurt overseas. Delivery revenue rose 23% to $5.49 billion, slightly below forecasts. Gross bookings were $59.82 billion.
Uber expects about 700 fully driverless vehicles on its network by year-end and more than 2,000 by the end of 2027, half in the US, according to CNBC and the earnings call. «In AVs, our focus is shifting from partnerships and testing» toward commercial driverless service, CEO Dara Khosrowshahi said on the call.
