Uber's Financial Highlights

Uber Technologies Inc. reported a significant 14% increase in its first-quarter revenue for fiscal 2025, reaching $11.5 billion. Despite this growth, the figures did not meet analysts' expectations. The company also announced a remarkable turnaround in net income, from a $654 million loss in the same quarter of 2024 to a $1.7 billion profit. Earnings per share (EPS) improved dramatically, from a loss of $0.32 to a gain of $0.83.

Operational Achievements

The quarter saw gross bookings climb to $42.8 billion, a 14% annual increase, with the number of trips growing by 18% to 3.1 billion. Looking ahead to the second quarter of 2025, Uber anticipates gross bookings to grow between 16% and 20% annually, projecting revenues between $45.75 billion and $47.25 billion.

Future Prospects

CFO Prashanth Mahendra-Rajah highlighted the company's strong user retention and the recent announcement of five new autonomous vehicle projects as key drivers for future growth. Despite these positive indicators, Uber's shares experienced a 5.91% drop in premarket trading, settling at $80.76 per share.