UBER Q1 2025 Earnings

Call Details

• Call Title: Uber Technologies, Inc. Q1 2025 Earnings Call
• Date: May 7, 2025 at 12:00 PM UTC
• Management Team:
  • Dara Khosrowshahi (CEO)
  • Prashanth Mahendra-Rajah (Chief Financial Officer)
  • Balaji Krishnamurthy (Head of Investor Relations)

Call Summary

Financial Performance

• Audience grew 14% to 170 million monthly active consumers during Q1 2025.
• Trips increased by 18% year on year, with retention rates described as all-time highs globally.
• The company reported record adjusted EBITDA of $1.9B, which was up 35% year on year.
• Free cash flow for Q1 2025 was $2.3B.
• Delivery margins were 3.7% of gross bookings, representing a 70 bps improvement versus the prior year.
• The company reported that incremental margin for delivery in Q1 was 9%.

Guidance

• The company signaled that Q2 2025 trip growth and top-line trends are expected to be consistent with Q1 levels.
• There was no explicit numeric guidance for Q2 revenue, adjusted EBITDA, or EPS disclosed on the call.
• U.S. mobility insurance cost expectations were updated to be a modest headwind in the high single digits through 2025.
• The company emphasized an objective of steady year-over-year margin improvement but did not provide specific H2 margin targets.
• Management reiterated the plan to balance profitability expansion with continued top-line investment.
• No share repurchase, dividend, or explicit capital return targets were disclosed during the call.