Uber Reports Significant Revenue Growth in Q1 2025

Uber Technologies Inc. revealed a 14% year-over-year increase in revenue for the first quarter of fiscal 2025, reaching $11.5 billion. Despite this growth, the figures did not meet analysts' expectations. Notably, the company turned a net loss of $654 million in Q1 2024 into a net income of $1.7 billion this quarter.

Key Financial Highlights

The company reported diluted earnings per share (EPS) of $0.83, a significant improvement from a loss per share of $0.32 in the previous year. Gross bookings saw a 14% annual growth to $42.8 billion, with trips increasing by 18% to 3.1 billion.

Future Outlook

Looking ahead to Q2 2025, Uber anticipates gross bookings to grow between 16% to 20% annually, projecting revenues between $45.75 billion and $47.25 billion. CFO Prashanth Mahendra-Rajah expressed optimism about the company's core business strength and future innovations, including recent autonomous vehicle announcements.

Despite the positive financials, Uber's shares dropped by 5.91% in premarket trading to $80.76 per share following the earnings report.