Uber misses revenue expectations with trips up 18% over last year

Core Insights - Uber's first-quarter results for 2025 exceeded earnings expectations but fell short of revenue growth forecasts, leading to a 5% decline in shares [1] Financial Performance - Revenue grew approximately 14% year-over-year, reaching $11.53 billion, compared to $10.13 billion in the same period of 2024 [1][6] - Net income was around $1.78 billion, or 83 cents per share, a significant improvement from a net loss of $654 million, or 32 cents per share, in Q1 2024 [2] Business Segments - The ride-hailing and food delivery segments saw increased bookings, with mobility gross bookings at $21.18 billion (up 13% year-over-year) and delivery gross bookings at $20.38 billion (up 15% year-over-year) [7] - Monthly active platform consumers grew to 170 million, a 14% increase from the previous year, with users booking approximately 3.04 billion trips, an 18% rise year-over-year [2] Future Outlook - The company anticipates gross bookings between $45.75 billion and $47.25 billion for the current quarter, with EBITDA projected between $2.02 billion and $2.12 billion [3] - CEO Dara Khosrowshahi highlighted autonomous vehicle technology as a significant opportunity for Uber, with an annual run-rate of 1.5 million autonomous vehicle trips [3][4] Partnerships and Innovations - Uber has partnered with Waymo for robotaxi services in Austin, Texas, which has exceeded expectations, with Waymo vehicles operating more efficiently than 99% of drivers in the area [4] - Additional partnerships include collaborations with Volkswagen, Avride, May Mobility, and Aurora for autonomous ride-hailing and freight services, as well as international partnerships with WeRide, Pony.AI, and Momenta [5]