Investing.com -- Uber Technologies shares jumped in Wednesday premarket trading after the ride-hailing and delivery giant posted first-quarter earnings that beat analyst estimates.

The company reported earnings per share (EPS) of $0.72, topping the analyst consensus of $0.70. Revenue rose 10% on a constant currency basis to $13.2 billion, slightly below the $13.31 billion Wall Street had expected.

Gross bookings, a key measure of total spend across Uber’s platform, grew 21% on a constant-currency basis.

The stock surged more than 9% in premarket trading by 07:21 ET.

Total trips during the quarter reached 3.6 billion, up 20% from a year earlier, driven by a 17% increase in Monthly Active Platform Consumers and a 3% rise in trips per user per month.

“We are off to an exceptional start to 2026, with Gross Bookings growth exceeding 21% for the third consecutive quarter and earnings scaling at more than twice our topline,” said Uber CFO Balaji Krishnamurthy

"From this position of strength, we’re investing with conviction in the significant opportunities ahead, while taking a capital-efficient approach to AVs and embracing AI to drive growth and productivity," he added.

Adjusted EBITDA grew 33% year-over-year to $2.5 billion. The margin as a percentage of gross bookings expanded to 4.6%, up from 4.4% in the first quarter of 2025.

For the second quarter, the company forecast adjusted EPS of $0.78 to $0.82, implying growth of 31% to 38% year-over-year. The consensus estimate sits at $0.81. Adjusted EBITDA is expected to be between $2.70 billion and $2.80 billion.

Uber guided for gross bookings of $56.25 billion to $57.75 billion, representing 18% to 22% constant-currency growth year-over-year, with a roughly two-percentage-point currency tailwind expected to lift reported growth further.