Uber Technologies Inc. (NYSE: UBER) Q1 2025 Earnings Analysis

Uber Technologies Inc. reported its Q1 2025 earnings on May 7, 2025, showcasing significant growth in profitability and operational metrics.

Financial Summary

Metric	Q1 2025	Q1 2024	YoY Change
Revenue	$11.53 billion	$10.13 billion	+14%
Net Income	$1.78 billion	$(654) million	**
EPS (GAAP)	$0.83	$(0.32)	**
Adjusted EBITDA	$1.87 billion	$1.38 billion	+35%
Operating Income	$1.23 billion	$172 million	**
Gross Bookings	$42.82 billion	$37.65 billion	+14%
Free Cash Flow	$2.3 billion	$1.42 billion	+62%

** Not meaningful due to prior year net loss.

Operational Highlights

• Trips: 3.0 billion, up 18% YoY
• Monthly Active Platform Consumers (MAPCs): 170 million, up 14% YoY
• Trips per MAPC: Increased by 3% YoY
• Operating Cash Flow: $2.3 billion
• Unrestricted Cash and Investments: $6.0 billion

Segment Performance

Mobility

• Gross Bookings: $21.18 billion
• Revenue: $5.9 billion

Delivery

• Gross Bookings: $20.38 billion
• Revenue: $3.2 billion

Freight

• Revenue: $1.1 billion

Q2 2025 Outlook

• Gross Bookings: $45.75 billion to $47.25 billion (16% to 20% YoY growth)
• Adjusted EBITDA: $2.02 billion to $2.12 billion (29% to 35% YoY growth)

Strategic Developments

Uber continues to invest in autonomous vehicle technology, announcing a pilot program with Pony.ai to deploy robotaxis in the Middle East. Additionally, Uber acquired an 85% stake in Turkey’s Trendyol GO for approximately $700 million to strengthen its position in the food delivery market.

Next Earnings Release

Uber is expected to report its Q2 2025 earnings in early August 2025.