Core Insights - Uber reported strong Q3 results with revenue of $13.47 billion, exceeding the $13.26 billion estimate, marking a 21% increase year-over-year [2] - The company posted an EPS of $1.20, significantly higher than the $0.70 expected, and adjusted EBITDA of $2.3 billion, up 33% from the previous year [2] - Despite strong performance, Uber's stock dropped 5% in pre-market trading, indicating investor expectations were not fully met [4] Financial Performance - Q3 revenue reached $13.47 billion, surpassing estimates and reflecting a 21% year-over-year growth [2] - Net income was reported at $6.6 billion, with $4.9 billion attributed to a tax valuation benefit rather than operational performance [2] - Monthly active platform consumers (MAPCs) increased to 189 million, exceeding expectations and showing a 17% year-over-year growth [3] Future Projections - Uber projects Q4 gross bookings between $52.25 billion and $53.75 billion, slightly above the $52.33 billion estimate, with adjusted EBITDA expected between $2.41 billion and $2.51 billion [3] - The company is focusing on building lifelong customer relationships and investing in AI and autonomy for future growth [4] Strategic Partnerships - Uber announced a partnership with Nvidia to develop the world's largest network of nearly autonomous (Level 4) cars, aiming to build 100,000 vehicles starting in 2027 [5][6] - The partnership with Lucid for a robotaxi service will utilize Lucid EVs and Nuro's Level 4 driving software [7] - Starting next year, Uber users will be able to book helicopter and seaplane trips through the app, thanks to a collaboration with Joby [8]

Core Insights - The ride-hailing company reported better-than-expected quarterly earnings and revenue [1] Financial Performance - The company achieved quarterly earnings that surpassed market expectations [1] - Revenue figures also exceeded forecasts, indicating strong demand and operational efficiency [1]

Core Insights - Uber reported stronger-than-expected third-quarter revenue, with shares declining by 4% despite the positive results [1] Financial Performance - Revenue increased by 20% to $13.47 billion compared to $11.2 billion in the same quarter last year, surpassing the $13.28 billion expected by analysts [2][4] - Gross bookings rose by 21% to $49.74 billion, exceeding the anticipated $48.95 billion [2] - Net income nearly tripled to $6.6 million, or $3.11 per share, from $2.6 billion, or $1.20 per share, in the previous year [3] - Adjusted EBITDA increased by 33% to approximately $2.26 billion, aligning closely with market estimates [3] Growth Metrics - The company experienced its strongest growth since the end of 2023, marking the largest trip volume increase in its history outside the post-Covid rebound [2]

Core Insights - The ride-hailing company reported increased profit and revenue in the third quarter, highlighting a significant rise in trip volume, marking one of the largest increases in its history [1] Financial Performance - The company experienced higher profit in the third quarter [1] - Revenue also saw an increase during the same period [1] Operational Metrics - The company achieved one of the largest trip-volume increases in its history [1]

Core Insights - Uber's Q3 2025 revenue reached $13.47 billion, surpassing market expectations of $13.275 billion and showing an increase from $11.188 billion in the same period last year [1] Financial Performance - Q3 2025 revenue: $13.47 billion [1] - Market expectations: $13.275 billion [1] - Year-over-year growth: from $11.188 billion in Q3 2024 to $13.47 billion in Q3 2025 [1]

Core Insights - Uber Technologies forecasts fourth-quarter gross bookings to exceed expectations, driven by its membership program enhancing demand for rides and deliveries during the holiday season [1] - Despite the positive forecast, Uber shares fell approximately 4% in premarket trading due to adjusted core profit guidance being slightly below market expectations [1] Financial Performance - The stock has increased about 65% year-to-date, attributed to strong results and Uber's growing market share in the ride-hailing sector [2] - For the third quarter, gross bookings reached $49.74 billion, surpassing estimates of $48.73 billion, while revenue rose 20% to $13.47 billion, exceeding expectations of $13.28 billion [5] Business Segments - The delivery segment experienced a 29% sales increase in Q3, outpacing the 20% growth in mobility revenue, while the freight division showed flat growth [3] - The Uber One program has led to increased customer engagement, with users of multiple services showing 35% higher retention and spending three times more than single-service users [3] Future Guidance - The company anticipates gross bookings for Q4 to be between $52.25 billion and $53.75 billion, with analysts expecting $52 billion [4] - Starting from the first quarter of next year, Uber will transition from adjusted EBITDA to adjusted profit forecasts, aligning with practices of more mature firms [4]

Core Insights - Uber Technologies has forecasted fourth-quarter gross bookings that exceed expectations, driven by increased demand from its membership program for both rides and deliveries as the holiday season approaches [1] Group 1 - The membership program is a significant factor in boosting demand for Uber's services [1] - The forecast indicates a positive outlook for Uber's performance in the upcoming quarter [1] - The timing of the forecast aligns with the holiday season, which typically sees increased consumer activity [1]

Exhibit 99.1 Uber Announces Results for Third Quarter 2025 Trips grew 22% year-over-year and Gross Bookings grew 21% year-over-year Income from operations of $1.1 billion; Adjusted EBITDA of $2.3 billion, up 33% year-over-year Operating cash flow of $2.3 billion and Free cash flow of $2.2 billion SAN FRANCISCO – November 4, 2025 – Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended September 30, 2025. "Uber's growth kicked into high gear in Q3, marking one of the lar ...

Market Overview - U.S. stock futures declined on Tuesday following mixed moves on Monday, with major benchmark indices showing lower futures [1] - The U.S. Government shutdown has reached its 34th day, leading to increasing economic consequences [2] - The 10-year Treasury bond yielded 4.08%, while the two-year bond was at 3.58% [2] - Market expectations indicate a 70.1% likelihood of the Federal Reserve cutting interest rates in December [2] Stock Performance - Dow Jones fell by 1.02%, S&P 500 decreased by 1.33%, Nasdaq 100 dropped by 1.67%, and Russell 2000 declined by 1.81% [2] - SPDR S&P 500 ETF Trust (SPY) was down 1.27% at $674.69, and Invesco QQQ Trust ETF (QQQ) declined 1.62% to $621.86 in premarket trading [2] Company Highlights - Advanced Micro Devices Inc. (AMD) fell 2.22% in premarket ahead of earnings, with expectations of $1.16 per share on revenue of $8.74 billion [6] - Upwork Inc. (UPWK) surged 18.30% after reporting better-than-expected Q3 results and raising FY25 guidance [6] - Denny's Corporation (DENN) surged 49.15% after announcing a definitive agreement to be acquired for approximately $620 million [6] - Palantir Technologies Inc. (PLTR) tumbled 7.51% despite strong earnings, influenced by Michael Burry's purchase of put options worth $186.58 million [15] - Uber Technologies Inc. (UBER) dropped 2.47% after reporting revenue of $11.2 billion, missing estimates of $13.27 billion [15] Economic Insights - The economic outlook remains mixed, with monetary policy being less predictable and trade risks easing [10] - A new U.S.-China trade truce is seen as beneficial for corporate earnings, but the stock market rally shows signs of structural cracks [11] - There is a growing divergence between price and breadth in the market, raising concerns about a potential false breakout [12]

Group 1: Alphabet's Performance and AI Impact - Alphabet's Google Cloud Platform saw a 34% increase in revenue last quarter, reaching $15.2 billion, with an operating margin of 24% [1] - The backlog for Google Cloud grew by 82% year over year to $155 billion, indicating strong future demand [1] - In the search business, Alphabet's revenue growth accelerated to 15% year over year, driven by AI enhancements in search features [2] - The AI mode feature, which integrates the Gemini chatbot interface, has attracted 75 million daily users, contributing to overall query growth [2] - Investor sentiment is shifting positively towards Alphabet as it is recognized for its potential gains from AI advancements [3] Group 2: Bill Ackman's Investment Strategy - Bill Ackman has a concentrated investment strategy, with over half of his hedge fund's $16 billion portfolio in just three companies [4] - Ackman believes that concerns regarding AI chatbots threatening Alphabet are overstated, and he sees significant growth potential for the company [3] - Following positive news and strong earnings, Alphabet's stock price has risen significantly, trading at about 27 times forward earnings estimates [6] Group 3: Uber Technologies Overview - Ackman has built a substantial position in Uber Technologies, praising its profitability under CEO Dara Khosrowshahi [7] - Uber has formed partnerships with autonomous vehicle suppliers, including Alphabet's Waymo, enhancing its value proposition [8] - The company reported a 15% year-over-year increase in monthly active platform consumers and an 18% increase in total trips and gross booking volume [9] - Uber's adjusted EBITDA grew by 35% year over year, indicating strong operating leverage [10] - The company has initiated a $20 billion stock repurchase program, supporting expected adjusted earnings-per-share growth of around 30% [11] Group 4: Brookfield's Growth Potential - Brookfield is a diversified holding company with significant growth drivers in its insurance and asset management segments [12] - The insurance business has tripled its assets from $45 billion to $135 billion in three years, with potential growth to $600 billion [13] - Management anticipates $6 billion in net carried interest income over the next three years, significantly boosting earnings [14] - Ackman expects Brookfield's distributable earnings per share to grow by 30% starting next year, with the stock trading at less than 20 times trailing distributable earnings [15]