Uber Shares Fall 6.7% as Q1 Revenue Misses, Profit Hits $1.78 Billion, Gross Bookings $42.8 Billion

Uber Technologies Inc. reported first-quarter 2025 revenue of $11.53 billion, a 14% year-over-year increase but below analyst expectations of around $11.62 billion to $11.63 billion. Gross bookings reached $42.8 billion, missing projections of $43.05 billion to $43.1 billion. Trip growth was 18%, and the company achieved 170 million monthly active consumers, with retention rates at all-time highs. The company posted a net profit of $1.78 billion for the quarter, reversing a loss of $654 million a year earlier. Diluted earnings per share were $0.83, above analyst estimates of $0.51. Adjusted EBITDA reached a record $1.9 billion. Uber cited weaker US rideshare demand, reduced inbound travel to the US, and a stronger US dollar against Latin American currencies as factors behind the revenue and bookings shortfall. Mobility bookings growth slowed to 20% from 24% in the previous quarter. The company's taxi offering is now available in over 500 cities and accounts for more than 10% of rides in the EMEA region. Uber is expanding its autonomous vehicle partnerships, with autonomous cars in Austin now busier than 99% of drivers there. Insurance pressures are moderating. The delivery unit performed in line with expectations, and Uber acquired an 85% stake in Turkey's Trendyol Go for $700 million. For the second quarter, Uber forecasts gross bookings between $45.75 billion and $47.25 billion and adjusted EBITDA between $2.02 billion and $2.12 billion, both above Wall Street estimates. Uber's shares fell as much as 6.7% after the earnings report, following a 42% rise earlier in the year.