Dara Khosrowshahi, CEO, Uber Technologies speaks during the third day of the FII PRIORITY Summit held at the Faena Hotel on February 21, 2025 in Miami Beach, Florida.
Joe Raedle | Getty Images
Uber shares fell 4% before the bell even after the ridesharing company beat Wall Street’s third-quarter revenue expectations.
- Earnings per share: $3.11. It was not immediately clear if that was comparable to the 68 cents expected by LSEG analysts.
- Revenue: $13.47 billion vs. $13.28 billion expected by LSEG
“This was our strongest growth since the end of 2023 and the largest trip volume increase in Uber’s history outside the post-Covid rebound,” CEO Dara Khosrowshahi in prepared remarks.
Revenues jumped 20% from $11.2 billion in the year-ago period. Gross bookings increased 21% to $49.74 billion and surpassed the $48.95 billion expected by StreetAccount.
Net income nearly tripled to $6.6 million, or $3.11 per share, from $2.6 billion, or $1.20 per share, in the year-ago period. Adjusted EBITDA rose 33% to about $2.26 billion and was roughly in line with StreetAccount’s estimate.
Uber said its net income included a $4.9 billion benefit from a tax valuation release and a $1.5 billion net pre-tax benefit from reevaluations of equity investments.
For the fourth quarter, Uber forecasted gross bookings between $52.25 billion and $53.75 billion, versus a StreetAccount estimate of $52.10 billion. The company expects adjusted EBITDA to range between $2.41 billion and $2.51 billion, versus $2.47 billion expected by StreetAccount.
Khosrowshahi said the company’s focus on innovation and affordability drove strong trips and gross bookings for the period.
Uber’s monthly active platform consumers increased 17% to 189 million. The company said it logged 3.5 billion trips during the quarter, up 22% from a year ago.
“At this point we see blue skies,” Khosrowshahi told CNBC’s “Squawk Box” on Tuesday. “Obviously, we are watching out in terms of the economies, the global economies, but at this point, the business continues to hit on all cylinders.”
Khosrowshahi said the company is also harnessing artificial intelligence to build more solutions for its drivers and couriers, and working with large language model creators such as OpenAI. He said he expects Uber’s ongoing growth to come from internal innovations and occasional acquisitions.
Here’s how the company’s key business segments performed:
- Mobility (gross bookings): $25.11 billion, up 20% year over year
- Delivery (gross bookings): $23.32 billion, up 25% year over year
Mobility segment revenues rose to $7.68 billion, slightly ahead of a StreetAccount estimate of $7.63 billion. Uber’s delivery business reported revenues of $4.48 billion, which topped the $4.31 billion projected by StreetAccount.
