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Written by Jack Delaney for The Motley Fool->
Uber shares are climbing higher after its Q1 2026 earnings report.
Gross bookings revenue exceeded expectations.
Robotaxis could be what makes this a company to consider holding for the long term.
For high-growth stocks, most investors' attention is being pulled toward artificial intelligence (AI) and space stocks. That's understandable, as AI's disruptive power is rattling through the market, and the SpaceX initial public offering is supposed to be inching closer.
There is, however, another tech sector that is supposed to grow by leaps and bounds in the years ahead: robotaxis. One potential winner in that space is Uber Technologies (NYSE: UBER), which just released its 2026 first-quarter earnings results on May 6.
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The stock price is climbing thanks to the report, but that robotaxi opportunity could ultimately be the long-term difference maker.
In the first quarter, Uber was solid, including adjusted earnings per share of $0.72, topping analysts' consensus expectations of $0.70. Revenue pretty much met forecasts, but net income took a hit due to revaluations of its equity investments.
Still, investors forgave the shortcomings, as the company topped expectations in other areas. Gross bookings climbed 25% to $53.7 billion and beat expectations of $52.8 billion. It also topped Q2 2026 forecasts, projecting booking revenue of $56.2 billion to $57.7 billion; analysts had expected $56.1 billion. Also, delivery revenue of $5.07 billion exceeded the $4.89 billion anticipated.
Around noon on the day of the announcement, all this was enough to send the Uber stock price 7.6% higher. The quick rally was welcome news for shareholders, helping make up some ground as shares were still down on the year.
To look beyond the short term and consider Uber's long-term potential as an investment opportunity, we'll circle back to that robotaxi revenue catalyst.
Different forecasts offer different projections. Fortune Business Insights forecasts the global robotaxi market size will be valued at $96.3 billion by 2034, while Grand View Research foresees a $147.2 billion market by 2033. While different, the key takeaway is that it's a market expected to grow by leaps and bounds.
Uber is positioning itself to be a leader in robotaxis, locking in deals for autonomous vehicles (AVs) from Lucid Group and Rivian Automotive. With the massive expense associated with AV research, development, and deployment, Uber sidesteps much of the risk by partnering with these companies rather than manufacturing its own robotaxis.
Aside from ride-hailing revenue, Uber also announced in January that it was working with 50,000 global fleet partners to collect and analyze data from trips. Uber's chief technology officer said in a report that "the biggest bottleneck to autonomy is no longer software or hardware -- it's access to superior, real-world training data and models."
Ultimately, the results from the first quarter will grab the most attention. But the growth story that long-term investors will want to focus on over the next few years is how well Uber is executing on its robotaxi opportunity.
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Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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