Uber reported first-quarter outcomes Wednesday that beat analysts’ expectations for earnings, however fell shy of anticipated revenue development for the quarter. The corporate’s shares fell about 5% following the report.
Here is how Uber did versus analysts’ estimates compiled by LSEG:
- Earnings per share: 83 cents vs. 50 cents anticipated.
- Revenue: $11.53 billion vs. $11.62 billion anticipated.
Revenue on the ride-hailing firm grew about 14% within the first three months of 2025, up from $10.13 billion throughout the identical interval in 2024.
Uber additionally reported internet earnings of round $1.78 billion or 83 cents per share, for the primary quarter, up from a internet lack of $654 million, or a lack of 32 cents per share, a year earlier.
Uber CEO Dara Khosrowshahi and CFO Prashanth Mahendra-Rajah stated they count on gross bookings to succeed in between $45.75 billion and $47.25 billion through the present quarter, with earnings earlier than curiosity, taxes, depreciation and amortization within the vary of $2.02 billion to $2.12 billion for that interval.
In April, the Federal Commerce Fee sued Uber and accused the corporate of “misleading billing and cancellation practices” round its subscription service referred to as Uber One.
“It’s kind of of a head-scratcher for us,” Khosrowshahi advised CNBC’s “Squawk Field” on Wednesday.
He stated that 60% of the corporate’s gross bookings in its Uber Eats enterprise come from Uber One members, and that the subscription service is rising shortly.
“The go well with alleges that some individuals do not realize that they are signing up or cancellations are troublesome, however I might encourage you to go expertise it your self,” Khosrowshahi stated. “It’s extremely, quite simple. You are taking a few steps to have the ability to cancel if you need.”
Uber’s largest enterprise segments, which embody its ride-hailing enterprise and meals and grocery supply service, noticed bookings enhance year over year.
Listed here are the important thing phase numbers:
- Mobility (gross bookings): $21.18 billion, up 13% year over year
- Supply (gross bookings): $20.38 billion, up 15% year over year
The corporate additionally stated its “month-to-month energetic platform customers,” had grown to 170 million, up 14% from the primary quarter of last year. Customers booked round 3.04 billion “trips” through the first quarter of 2025, up 18% from the primary quarter of 2024.
Uber advised workers on the finish of April that they must come into the workplace three days every week as a substitute of two, together with some distant staffers. The corporate additionally introduced adjustments to its monthlong paid sabbatical profit, elevating the requirement from 5 years on the firm to eight years.
Khosrowshahi defended the coverage adjustments at a heated all-hands assembly last week, as CNBC beforehand reported.
“Our firm is executing very well, however we have to be at our prime of our sport and meaning individuals working collectively within the workplace,” he advised CNBC on Wednesday.
Uber has additionally been making a push into autonomous autos, or AV know-how. Khosrowshahi stated the corporate views AVs as “the one biggest alternative forward for Uber.”
Uber permits app customers to e-book robotaxi rides in some U.S. markets, or order meals for supply by way of autonomous car in others.
Khosrowshahi stated Uber reached an “annual run-rate” of 1.5 million autonomous car trips.
In March, the corporate started to supply customers in Austin, Texas, the choice to hail a robotaxi from its companion, Alphabet-owned Waymo completely by way of the Uber platform.
Khosrowshahi stated the Waymo Austin launch “exceeded” Uber’s expectations and round 100 Waymo autos working in Austin at the moment are “busier than over 99% of all drivers” in Austin so far as accomplished trips per day.
Moreover its Waymo partnership, Uber has additionally agreed to work with Volkswagen, Avride, Might Mobility, and the autonomous trucking firm Aurora for autonomous ride-hailing and freight companies within the U.S. Uber has further partnerships with AV firms internationally together with with WeRide, Pony.AI and Momenta.
“Supported by the constant power of our core enterprise, we proceed to construct in direction of the long run, together with 5 new autonomous car bulletins in simply the last week,” Khosrowshahi stated in a launch.
Executives are scheduled to debate Uber’s first-quarter outcomes and plans throughout an earnings name Wednesday at 8:00 a.m. EDT.
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