Uber Technologies Inc (NYSE:UBER) reported financial results for the fourth quarter and full year of 2025, delivering a mixed performance that has triggered a sharp negative reaction in the stock during pre-market trading. While the company showcased robust top-line growth and significant gains in profitability, a key earnings miss and a cautious near-term outlook appear to have disappointed investors.
Earnings Snapshot: Revenue In Line, EPS Falls Short
The core financial results for Q4 2025 presented a tale of two metrics. Uber's revenue growth remained strong, essentially meeting analyst expectations. However, its profitability on a per-share basis came in below consensus forecasts.
- Reported Revenue: $14.37 billion, representing a 20% year-over-year increase.
- Analyst Revenue Estimate: Approximately $14.61 billion.
- Reported Non-GAAP EPS: $0.71.
- Analyst EPS Estimate: $0.81.
This earnings-per-share miss of roughly 11% is the primary focal point for the market's negative reaction. Despite generating $1.5 billion in non-GAAP net income for the quarter, the figure fell short of the elevated expectations set by Wall Street.
Market Reaction and Forward Guidance
The immediate market response has been punitive. In pre-market trading following the report, UBER shares are down approximately 4.9%. This decline suggests investors are prioritizing the earnings miss and the company's forward guidance over other positive aspects of the report.
For the upcoming first quarter of 2026, Uber provided its own outlook, which offers a mixed signal when held against analyst projections.
- Uber's Q1 2026 Non-GAAP EPS Guidance: $0.65 to $0.72.
- Analyst Q1 2026 EPS Estimate: Approximately $0.78.
- Uber's Q1 2026 Gross Bookings Guidance: $52.0 to $53.5 billion (implied revenue growth).
- Analyst Q1 2026 Revenue Estimate: Approximately $13.98 billion.
The midpoint of Uber's EPS guidance range ($0.685) sits notably below the current analyst consensus, indicating management anticipates continued pressure on bottom-line growth relative to expectations in the near term. The company's gross bookings guidance, which translates to revenue, suggests growth is expected to remain healthy but may also be at the lower end of market hopes.
Press Release Highlights: Strong Operational Growth
Beyond the headline earnings figures, Uber's press release detailed significant operational and financial strength, which the market is currently overlooking in favor of the profit shortfall.
Key operational achievements for Q4 2025 include:
- Record Scale: The platform facilitated 3.8 billion trips in the quarter, up 22% year-over-year, with over 200 million monthly active platform consumers.
- Segment Strength: Both Mobility and Delivery segments posted impressive growth. Mobility Gross Bookings grew 20% to $27.4 billion, while Delivery Gross Bookings surged 26% to $25.4 billion.
- Substantial Profitability Gains: Adjusted EBITDA grew 35% to $2.49 billion. GAAP income from operations more than doubled, increasing 130% to $1.77 billion.
- Robust Cash Generation: The company generated $2.8 billion in free cash flow during the quarter and $9.8 billion for the full year, underscoring the financial maturity of its platform.
CEO Dara Khosrowshahi emphasized the company's "rapidly growing topline [and] significant cash flow," while incoming CFO Balaji Krishnamurthy stated Uber enters 2026 "with strong momentum."
Conclusion
Uber's fourth-quarter results solidify its position as a massive, growing, and cash-generative platform. The fundamental health of its Mobility and Delivery businesses is evident in the double-digit growth across trips, users, and gross bookings. However, the investment community's reaction highlights the high bar set for profitability. The miss on quarterly EPS and a first-quarter profit outlook that lags behind analyst estimates have overshadowed the strong operational performance, leading to a sell-off.
The coming quarters will be critical for Uber to demonstrate its ability to translate its immense scale and revenue growth into bottom-line results that meet or exceed market expectations.
For a detailed look at Uber's historical earnings and future analyst estimates, visit the UBER earnings and estimates page.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial analysis, or a recommendation to buy, sell, or hold any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
