Uber (UBER) 2025 Q4 earnings

uber Inc. reported better-than-expected revenue in its fourth-quarter earnings report on Wednesday. Shares sank in the premarket after the release.

Here’s how the company performed against LSEG consensus estimates for the period ending in December:

• earnings per share: adjusted 71 cents
• Income: $14.37 billion vs. $14.32 billion estimated

Uber said in its earnings release that revenue increased from $12 billion a year earlier. The mobility segment, its ride-hailing platform, generated revenue of $8.2 billion, up 19% from a year earlier, while delivery revenue rose 30% to $4.9 billion.

According to StreetAccount, analysts were expecting mobility revenue of $8.3 billion and delivery revenue of $4.72 billion.

Net income for the quarter was $296 million, the company said, including a $1.6 billion “net pre-tax headwind from the revaluation of our equity investments.” Net income was $6.88 billion a year ago.

According to StreetAccount, Uber reported gross bookings of $54.1 billion for the quarter, exceeding the average analyst estimate of $53.1 billion. Gross bookings for the first quarter are expected to rise at least 17% from a year earlier to between $52 billion and $53.5 billion.

The company’s strongest revenue growth for the quarter was in its delivery business, which started with restaurants and now includes groceries and retail. Partnership with OpenTable, ShopifyAnd store brands such as Loblaws in Canada, Bydronka in Poland, Seiyu in Japan and Coles in Australia helped expand.

In prepared remarks ahead of the earnings call, CEO Dara Khosrowshahi said delivery growth was the highest for Uber in the Europe, Middle East and Africa region last year.

Uber’s report comes at a time of transition for the ride-hailing industry as autonomous vehicles become more common, especially in urban markets.

Reiterating a view he shared a year ago, Khosrowshahi said he is even more confident that “AV will unlock a multi-trillion dollar opportunity,” adding that “autonomy fundamentally amplifies the strengths of our existing platforms.”

In Atlanta and Austin, Texas, where Uber plans to offer autonomous rides in 2025, overall trip growth accelerated “significantly” even for human drivers, the company said in a shareholder deck. In San Francisco, where Uber doesn’t yet have a robotaxi option, “the addition of AV supply to the market has driven overall growth in the category,” Khosrowshahi said.

alphabetical Waymo has operated a driverless ride-hailing service through its own app in San Francisco since 2024. In some markets, Waymo offers its robotaxi rides exclusively through the Uber app.

Khosrowshahi said that by the end of 2026, Uber hopes to offer AV trips in 15 cities globally, split between the US and other countries. “And by 2029, we intend to become the largest facilitator of AV journeys in the world,” he added.

Upcoming cities include Houston, Los Angeles and San Francisco, as well as London, Munich, Hong Kong, Zurich and Madrid.

But Khosrowshahi cautioned that “autonomous vehicles are likely to remain a very small part of the rideshare category for many years to come,” as there are technical, regulatory and other barriers to their widespread adoption.

Uber is also focusing on growing its Uber One program, in which members tend to book more rides and purchase more items through Uber after subscribing. The company is also investing in its advertising business.

Tapping into the growing popularity of generic artificial intelligence, Uber said it is working to “expand search and reach new customers” through an integration with ChatGPIT, allowing users to “discover services and restaurants” before completing their checkout.

Watch: Uber CEO on consumer market