Uber Technologies Inc. reported its third-quarter earnings, revealing gross bookings of $41 billion, a 16% year-over-year increase. Mobility gross bookings rose 17% to $21 billion, while delivery gross bookings increased 16% to $18.7 billion. Revenue for the quarter reached $11.2 billion, marking a 20% year-over-year growth. However, the company’s stock fell 9% following the earnings report, reflecting investor concerns over a weaker-than-expected bookings outlook for the fourth quarter. Analysts have responded with mixed ratings, with some firms like Evercore ISI raising their price target to $120 from $90, while others, including Truist Securities and BofA, cut their targets to $95 and $93, respectively. Despite beating earnings expectations with $1.20 per share versus the anticipated $0.37, the stock's decline has been attributed to the disappointing forecast for future bookings, leading to unusual options activity indicating further downside risk.