Uber reported first-quarter 2025 results that exceeded analysts’ expectations for earnings but came in just short on revenue projections. The company posted earnings of 83 cents per share, significantly ahead of the expected 50 cents, while revenue reached $11.53 billion, slightly below the anticipated $11.62 billion. This represents a 14% increase in revenue from $10.13 billion during the same quarter last year.
Net income for the quarter reached $1.78 billion, marking a significant turnaround from a net loss of $654 million in the first quarter of 2024. The company projects gross bookings in the second quarter to fall between $45.75 billion and $47.25 billion, with adjusted EBITDA forecasted between $2.02 billion and $2.12 billion.
Despite the solid performance, Uber is facing legal challenges, including a lawsuit filed by the Federal Trade Commission over alleged deceptive practices related to its Uber One subscription service. In response, Uber emphasized the growing importance of the subscription offering, which now contributes to 60% of gross bookings in the Uber Eats division. The company maintains that cancellation procedures are straightforward and user-friendly.
Uber’s primary business segments continue to show healthy growth. Gross bookings for its mobility segment reached $21.18 billion, up 13% year-over-year, while delivery bookings climbed to $20.38 billion, a 15% increase. Monthly active platform consumers rose to 170 million, a 14% increase from the previous year, and users booked approximately 3.04 billion trips during the quarter, reflecting an 18% year-over-year growth.
Internally, Uber has implemented new workplace policies, increasing in-office attendance to three days per week and adjusting its paid sabbatical program eligibility from five to eight years. The changes sparked discussions among employees, but leadership emphasized the importance of collaboration and peak performance.
Uber is also accelerating its investment in autonomous vehicle (AV) technology, calling it the company’s most significant growth opportunity. The company achieved a run-rate of 1.5 million AV trips annually and recently expanded its partnership with Waymo in Austin, Texas. The robotaxi launch has outperformed expectations, with around 100 Waymo vehicles completing more trips per day than 99% of human drivers in the city.
In addition to Waymo, Uber has established partnerships with Volkswagen, Avride, May Mobility, Aurora, and several international AV firms, aiming to integrate autonomous technologies across ride-hailing and delivery services worldwide.
READ MORE: