UBER · Earnings call · 2026Q3T · Full report

Middle East Conflict Impact

Uber Technologies, Inc · 2026-11-04 · Importance 20 · Surprise 24

Management said escalation of the war in the Middle East has raised fuel costs globally, with the effects most material in emerging markets. Elevated fuel prices in Brazil and India are meaningfully affecting driver supply, where both consumers and drivers are price-sensitive. Uber is making targeted investments in driver acquisition, retention, and engagement; management reported early supply improvements in October, including in Brazil and India.

Key facts

• Uber said the Middle East war has driven fuel-cost impacts globally, with the greatest material impact for Uber in emerging markets.
• Elevated fuel prices in Brazil and India materially affected Uber’s driver supply situation in Q3 2026.