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Dara Khosrowshahi
Dara Khosrowshahi UBER
Chief Executive Officer & Director, Uber Technologies Inc
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Uber CEO Dara Khosrowshahi on Q3 results: We have more demand than we have supply

📅 Nov 04, 2026 CNBC Television 9 MIN 80 VIEWS 17 SEGMENTS · 2 SPEAKERS
Uber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss his thoughts on the November midterm elections, the company's quarterly earnings results, autonomous vehicle growth, impact of AI agents, and more.

What Dara Khosrowshahi said

Written from the verified transcript and checked against it. Every figure links to the moment it was said.

Dara Khosrowshahi discussed Uber's Q3 2026 results, highlighting strong demand exceeding supply, with gross bookings up 20% year-on-year on a $60 billion base, trips up 16%, and over 200 million monthly active users. He noted Uber paid $25 billion to drivers and couriers, with a $100 billion run rate. He detailed a $10 billion commitment to autonomous vehicles, expecting over 2,000 AVs in multiple markets next year, tens of thousands by 2028, and more in 2029-2030, with partnerships including Waymo, Nuro, Avride, and Rivian. He addressed competition with Waymo and Tesla, seeing a multiplicity of models. On AI agents, he said economics are TBD, but Uber's direct channel remains strong with 75% one-click booking accuracy and under 50 seconds average time. Regarding the DoorDash-Instacart deal, he noted merchant concerns but sees it improving Uber's position, while Uber plans to focus on organic growth and integration.

Key takeaways

  1. Uber has more demand than supply, investing in driver and courier supply in India, Brazil, Canada, and the US.
  2. Uber committed over $10 billion to autonomous vehicles, with over 2,000 AVs expected next year and tens of thousands by 2028.
  3. Gross bookings grew 20% year-on-year on a $60 billion base, with trips up 16% and over 200 million monthly active users.
  4. Uber paid $25 billion to drivers and couriers, with a $100 billion run rate.
  5. Uber will tune down acquisitions for the next year, focusing on organic growth and integration of announced deals.

Numbers and commitments

FigureWhat it refers toTypeAt
$10 billion Commitment to autonomous vehicle investment commitment 2:32
20% Year-on-year gross bookings growth metric 1:03
$60 billion Gross bookings base metric 1:03
16% Year-on-year trips growth metric 1:03
200 million Monthly active users metric 1:03
14% Year-on-year audience growth metric 1:03
$25 billion Paid to drivers and couriers metric 0:18
$100 billion Run rate metric 0:18
2,000 AVs expected next year guidance 2:32
75% One-click booking accuracy on mobility metric 5:50

Chapters

  1. 0:00Earnings and platform impact
  2. 0:53Q3 growth metrics
  3. 1:03Supply-demand imbalance
  4. 2:15Autonomous vehicle investment
  5. 4:20AV market competition
  6. 5:25AI agents and direct channel
  7. 8:12DoorDash-Instacart deal

Questions asked in this interview

5
  1. 2:15... may have to make going forward, when you think about the robotaxi market and what happens in a sort of a post-Waymo world for you, I don't know where you think that that all stands, but how much do you think you're going to have to spend?
  2. 4:20Do you though see Waymo, for example, effectively going its own way, and Tesla, for example, going its own way long term?
  3. 5:25How are you thinking about AI agents?
  4. 7:14Is that a negotiated deal that you think you're going to have to make with each agent service?
  5. 8:12Do you have any particular concerns about that transaction?
Dara Khosrowshahi 0:01 ↗
should be balanced. Whether you should raise one to the other or lower the other one, that's really up to the folks in power, but it doesn't seem right to me. It doesn't seem balanced to me. And maybe...
Interviewer 0:11 ↗
You've given so many people such a great, such great opportunities too. I think I'd just be sticking my chest out and proud of that, I really do.
Dara Khosrowshahi 0:18 ↗
Yeah. Listen, we are, we are, we're doing our part, right? We've got over, I think, close to 11 billion earners on our platform. And actually we're now at a run rate of over $100 billion this quarter. We paid $25 billion to our drivers and couriers. So we're at $100 billion run rate. Where as a company, you know, we're building a business that pays people to be able to work flexibly. Driver earnings are up, courier earnings are up. So we certainly have a lot to be proud of. And we're playing our part, but we're a small part of the ecosystem even though we're a pretty big company.
Interviewer 0:53 ↗
So talk about the last quarter. I think the things that people were really focused on this time around were gross bookings and just the overall user growth piece of this story.
Dara Khosrowshahi 1:03 ↗
Yeah, absolutely. So gross bookings for us grew 20% year on year on a $60 billion base now, which is terrific. Trips grew 16% year on year, and our audience is at an all-time record, well over 200 million monthly active users, growing at 14% year on year. The trend that we saw this quarter was actually that we have more demand than we have supply. So the demand, especially for mobility services, is exceeding that of the supply of drivers and couriers on our platform. And unlike, you know, the Silicon Valley chip makers, where we just want to, you know, they raise price on their customers, we don't want to raise price on our customers the way that, you know, you raise prices. Either customers have to pay more, ETAs go up, or prices for their rides or their deliveries go up. And that's not how we want to run our business. So we're actually now investing significantly in supply in India, in Brazil, in Canada, even in the US, to make sure that we have the right amount of driver and courier supply to meet the demand that we're seeing from the consumer, which remains actually quite strong.
Interviewer 2:15 ↗
In terms of investment that you may have to make going forward, when you think about the robotaxi market and what happens in a sort of a post-Waymo world for you, I don't know where you think that that all stands, but how much do you think you're going to have to spend?
Dara Khosrowshahi 2:32 ↗
Well, we have talked about investing and committing over $10 billion in capital, and it's a combination of investing in various partners, partners like Nuro, like Avride, like many other partners, Rivian as well, who are developing the technology. And it's a really efficient way of investment where for every dollar we invest, usually they're able to raise two to three dollars from external investments as well. Then we invest in operationalizing AVs. So for example, our partnership with Waymo in Atlanta and Austin, right now AVs are much less profitable, so to speak, than human beings. That will kind of, over a period of time, we think AV profitability will be equal to human profitability as well on our platform. But that is certainly going to take time. And then we are also committing to vehicles. You know, these are very, very expensive cars with incredible sensor stacks, compute stacks, etc. And so we have committed about $10 billion for AV going forward. We believe that we're going to have over 2,000 AVs in multiple markets next year, and then we're going to get into the tens of thousands in 2028, and then substantially more in '29 and '30. We think, you know, these autonomous vehicles are going to be safer. And the good news is that in markets in which we see AVs introduced, the market growth is actually accelerating. So the market growth in AV markets, as is mature AV markets as is California. And for example, Texas is growing about seven points faster for the whole category than the rest of the nation. So it does look like these autonomous vehicles are opening up new demand channels, which is great for everybody.
Interviewer 4:20 ↗
Do you though see Waymo, for example, effectively going its own way, and Tesla, for example, going its own way long term?

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Cite this transcript

APA, MLA, BibTeX
APA

Khosrowshahi, D. (2026, November 4). Uber CEO Dara Khosrowshahi on Q3 results: We have more demand than we have supply [Interview transcript]. CNBC Television. CEOInterviews.AI. https://ceointerviews.ai/interview/3194165/

MLA

Dara Khosrowshahi. "Uber CEO Dara Khosrowshahi on Q3 results: We have more demand than we have supply." CNBC Television, 4 Nov. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/3194165/.

BibTeX 
@misc{khosrowshahi2026_3194165,
  author       = {Dara Khosrowshahi},
  title        = {Uber CEO Dara Khosrowshahi on Q3 results: We have more demand than we have supply},
  howpublished = {Interview transcript, CNBC Television. CEOInterviews.AI},
  year         = {2026},
  month        = {nov},
  url          = {https://ceointerviews.ai/interview/3194165/},
  note         = {Speaker-attributed transcript with timestamps}
}