Uber Technologies Inc. announced on Wednesday that its revenue for the first quarter of its fiscal 2025 jumped 14% year-over-year to land at $11.5 billion. However, the figure came below analysts' forecasts. Net income surged to $1.7 billion, compared to a net loss of $654 million in the same quarter of 2024. Diluted earnings per share (EPS) advanced from a loss per share of $0.32 to $0.83.
Gross bookings in the quarter amounted to $42.8 billion, growing 14% annually, while trips rose 18% to 3.1 billion. For the second 2025 quarter, the company expects gross bookings growth of 16% to 20% annually to generate between $45.75 billion and $47.25 billion.
"We kicked off the year with yet another quarter of profitable growth at scale, with trips up 18% and even stronger user retention … Supported by the consistent strength of our core business, we continue to build towards the future, including five new autonomous vehicle announcements in just the last week," CFO Prashanth Mahendra-Rajah added. Uber's shares fell 5.91% in the premarket session following the report, selling at $80.76 apiece.
