Uber reported third‑quarter 2025 results with revenue of $13.47 billion, a 20% year‑over‑year increase. GAAP earnings per share were $3.11, surpassing analyst consensus of $0.69 (or $2.92) and driving a strong earnings beat. Adjusted EBITDA rose to $2.26 billion and gross bookings reached $49.74 billion. Trip volume grew 22% and monthly active platform consumers increased 17% year‑over‑year.
Mobility bookings climbed 20% to $25.11 billion, while delivery bookings rose 25% to $22.8 billion. Freight bookings remained flat at $1.31 billion. Delivery revenue surged 29%, and the Europe and Middle East region saw 30% growth in bookings.
For the fourth quarter, Uber projected gross bookings of $52.25‑$53.75 billion and adjusted EBITDA of $2.41‑$2.51 billion, slightly below consensus estimates. Management reiterated that autonomous‑vehicle revenue will not be profitable for several years, citing continued investment in driverless technology. The Uber One membership program continues to support demand across mobility and delivery segments.
Net income for the quarter was $6.6 billion, largely driven by a $4.9 billion tax valuation benefit. Adjusted EBITDA margin improved to 4.5% from 4.1% in the same quarter a year earlier, reflecting stronger profitability despite the capital intensity of autonomous initiatives.
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