Uber Technologies (UBER) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 rose 14–17% year-over-year to $11.5 billion, with strong growth in Mobility and Delivery segments and monthly active consumers up 14% to 170 million.

• Net income reached $1.8 billion, reversing a $654 million loss in Q1 2024, aided by unrealized gains on equity investments.

• Adjusted EBITDA grew 35% year-over-year to $1.9 billion, with free cash flow of $2.3 billion and a margin of 4.4% of Gross Bookings.

• Gross Bookings rose 14–18% year-over-year to $42.8 billion, with trips up 18% to 3.0 billion and retention rates at all-time highs.

• Strategic partnerships, AV initiatives, and the $700 million acquisition of Trendyol GO in Türkiye were announced.

Financial highlights

• Revenue increased 14–17% year-over-year to $11.5 billion; net income was $1.8 billion, including a $51 million pre-tax gain from equity investments.

• Adjusted EBITDA reached $1.9 billion, up 35% year-over-year, with a margin of 4.4% of Gross Bookings.

• Free cash flow for Q1 was $2.3 billion, up 66% year-over-year, and cash and equivalents stood at $6.0 billion at quarter-end.

• Income from operations was $1.2 billion, up from $172 million in Q1 2024.

• Gross Bookings: Mobility $21.2–22.8 billion (+13–20% YoY), Delivery $20.1–20.4 billion (+15–18% YoY), Freight $1.26–1.3 billion (-1 to -2% YoY).

Outlook and guidance

• Q2 2025 Gross Bookings expected at $45.75–47.25 billion, up 16–20% YoY on a constant-currency basis.

• Q2 Adjusted EBITDA projected at $2.02–2.12 billion, up 29–35% YoY.

• Management expects continued revenue and trip growth, ongoing investments in new products, and steady margin expansion.

• Currency headwinds anticipated to impact reported growth by 1.5 percentage points overall.

• Forward-looking statements caution on risks from competition, regulatory changes, and macroeconomic factors.