Uber shares slide as robotaxi worries meet upbeat bookings and Uber Eats growth

Uber Technologies’ stock pulled back again in early June, with shares down roughly 12.3% year to date as investors weighed the pace and payoff of the company’s autonomous vehicle ambitions. In a market recap published June 4, Yahoo Finance pointed to mounting concern around the robotaxi timeline even as Uber’s longer-term case was supported by its delivery and “Eats” ecosystem. The same recap also cited a valuation that it said sat below industry levels, while framing autonomous mobility as an area where uncertainty could drive near-term volatility.

While the market debate has centered on self-driving, Uber’s most recent disclosed operating picture leaned positive. In its first-quarter 2026 results, the company said trips grew 20% year over year to 3.6 billion and that gross bookings grew 25% year over year to $53.7 billion. Revenue rose 14% year over year to $13.2 billion, and Uber reported record GAAP income from operations of $1.9 billion alongside non-GAAP operating income of $1.9 billion, up 42% year over year.

Uber also emphasized the role of its subscription and cross-app engagement. Uber said it had reached 50 million members in Uber One, and that members were driving half of gross bookings across Mobility and Delivery. The company’s CFO also highlighted that growth in bookings and earnings was scaling faster than topline, while describing its approach to autonomous vehicles as capital efficient and tied to productivity gains from using AI.

In Delivery, Uber’s strategy has increasingly been about expanding the “shop” behavior that happens inside the Uber app and Uber Eats. In a separate announcement, Uber and Kroger said they were expanding the integration of Kroger’s retail offering onto Uber Eats, with planned access to nearly 2,700 Kroger stores across multiple banners beginning early 2026. That partnership also described loyalty benefits for Uber One and Kroger Boost members, including cash-back and order discounts, and said the two companies would collaborate on retail media experiences intended to support products and promotions relevant to shoppers.

The robotaxi story, however, remains the pressure point for the stock. Uber has continued to publicize its autonomous roadmap and partner model. At CES in January 2026, Uber said it unveiled production-intent robotaxi vehicles with Lucid and Nuro and that autonomous on-road testing had begun, with Nuro leading supervised testing using engineering prototypes. The company also said it expected the robotaxi service to launch later in 2026 in the San Francisco Bay Area.

More recently, Uber has described broader scaling plans tied to NVIDIA’s autonomous software stack. In March 2026, Uber announced that it would work with NVIDIA to deploy L4, software-driven robotaxis on Uber across 28 cities by 2028, with a phased approach beginning with data-collection vehicles and progressing to operator-led launches before moving toward driverless operations. Uber framed the plan as a way to broaden commercialization by combining partner expertise with Uber’s network and operating experience.

Still, the company has not disclosed many of the details investors often want for valuation, including near-term robotaxi unit economics, the timing of regulatory milestones city-by-city, or how quickly those services could contribute to profits at scale. The June stock commentary attributed the decline largely to robotaxi fears, but Uber’s own disclosures in the quarterly results centered on overall bookings, revenue, and platform growth rather than providing an updated, quantified autonomous program forecast.

Investors will likely watch whether Uber’s core growth narrative continues to hold up while the AV program advances from testing to launches and whether delivery and “shop” partnerships keep supporting bookings momentum. For the near term, attention may also turn to the company’s next earnings update, where it will be expected to reconcile strong reported gross bookings with whatever changes the market is pricing into the robotaxi timeline.