Uber's Q1 bookings miss forecasts, but Q2 guidance strong

(Sharecast News) - Ride-hailing giant Uber reported a stronger first quarter than last year on Wednesday, though shares dropped as numbers fell short of forecasts. The company said that it made 3bn trips over the first three months of 2025, up 18% on last year, with monthly active platform customers rising by 14%.

Gross bookings and total revenues both improved by 14% year-on-year to $42.8bn and $11.5bn respectively, but analysts were widely expecting figures closer to $43bn and $11.6bn, respectively.

Nevertheless, adjusted EBITDA surged 35% to $1.9bn, while the company posted a net profit of $1.78bn, compared with a $645m loss a year earlier. Earnings came in at 83 cents per share, up from a 32 cents loss previously, and slightly ahead of the 81 cents estimate.

Despite the first-quarter revenue miss, Uber said it is expecting gross bookings of $45.8bn-47.3bn in the second quarter, with the mid-range comfortably ahead of the current $45.8bn consensus forecacst.

"We delivered over $2bn of quarterly free cash flow, with multiple levers in our control to generate industry-leading cash flow growth," said chief financial officer Prashanth Mahendra-Rajah.

"We remain focused on disciplined capital allocation to drive greater financial durability and are on track to deliver against our multiyear plan."

Uber shares were down 2.6% at $83.59 by 1215 in New York.