Uber Technologies, Inc. · UBER · FY2024 Q4 · Calendar Q1 2025

Uber: Strong bookings and EBITDA growth, with AV investment ahead

The quarter supports a constructive operating thesis: resilient demand, membership growth, and improving profitability were accompanied by investment in supply and autonomous-vehicle infrastructure. The counterweight is that AV commercialization remains a longer-term opportunity and execution, FX, insurance, and regulatory risks remain material.

Reported Before market openNYSETechnology $136.24B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.50
EPS surprise — Reported versus consensus
Reported revenue — Consensus $11.78B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -7.6% Event window
SPY move +0.4% Same window
Abnormal move -8.0% Stock minus SPY
Volume 3.1× Versus trailing sessions
Subsequent drift +16.3% Up to 20 sessions
UBERSPY benchmark

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, bookings growth accelerated from 20% to 21% year over year, Uber One membership rose from 25 million to 30 million, and the focus broadened toward fleet, depot, and EV-charging infrastructure. Guidance sentiment remained maintained.

Guidance delta

Maintained; the analysis notes a 17%-21% constant-currency bookings growth range for Q1, with FX headwinds.

Key takeaways

  • Gross bookings grew 21% year over year and exceeded the high end of company guidance.
  • Adjusted EBITDA rose 60% year over year, with a 7.8% margin and free-cash-flow conversion of 106% of EBITDA.
  • Uber One reached 30 million members, while multi-product usage reached an all-time high of 37%.
  • The company is expanding supply in less-dense markets and building fleet, depot, and EV-charging infrastructure as AV commercialization remains longer term.

Management priorities

  • Expand Uber One membership and premium products.
  • Scale supply incentives and driver programs in less-dense markets.
  • Continue AV partnerships and fleet-infrastructure investment.
  • Grow Uber Eats merchant coverage and premium mobility offerings.

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Earnings History

Estimate Beat Miss Match
UBER REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $10B Q4 '23 actual $10B, beat Q1 '24 estimate $10B Q1 '24 actual $10B, beat Q2 '24 estimate $11B Q2 '24 actual $11B, beat Q3 '24 estimate $11B Q3 '24 actual $11B, beat Q2 '25 estimate $12B Q2 '25 actual $13B, beat Q3 '25 estimate $13B Q3 '25 actual $13B, beat Q4 '25 estimate $14B Q4 '25 actual $14B, beat Q1 '26 estimate $13B Q1 '26 actual $13B, miss Q2 '26 estimate $14B Q2 '26 actual $14B, miss Q3 '26 estimate $15B Q4 '26 estimate $16B Q1 '27 estimate $15B
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Analyst Consensus ?

ConsensusBuy62 ratings
Bullish5182.3%
Neutral1117.7%
Bearish00.0%

Analyst 52W Price Targets

$66.7Current
$33Low
$90.2Average
$150High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Guggenheim Buy BuyMaintainOct 16, 2026
Cantor Fitzgerald Overweight OverweightMaintainOct 12, 2026
Citizens Market Outperform Market OutperformMaintainOct 7, 2026
BTIG Buy BuyMaintainOct 7, 2026
Wells Fargo Overweight OverweightMaintainOct 5, 2026
Show 57 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $66.7. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoKen Gawrelski$92$68.11 +37.9%Oct 5, 2026
Arete ResearchAnalyst unavailable$74$71.08 +10.9%Sep 10, 2026
ScotiabankAnalyst unavailable$100$73.13 +49.9%Sep 9, 2026
BTIGJake Fuller$100$75.96 +49.9%Sep 4, 2026
BMO CapitalBrian Pitz$119$75.77 +78.4%Sep 3, 2026
See 144 more

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Company context

Snapshot as of publication

Uber Technologies, Inc. is a leading technology corporation that conceptualizes and deploys its proprietary software applications across a broad global footprint, spanning North and South America, Europe, the Middle East, Africa, and the Asia-Pacific region. The company primarily serves as a digital nexus, linking consumers with independent transport providers for ride-hailing services. Furthermore, it connects individuals and other patrons with a variety of establishments—such as restaurants, grocery stores, and other retailers—to a network of delivery service providers for the preparation and transport of meals, groceries, and other goods. The organization structures its operations into three distinct divisions: Mobility, Delivery, and Freight.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-22T00:04:22.296664+00:00
  3. Polygon adjusted daily market bars · 2026-10-24T20:10:44.291197+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T20:10:44.287670+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.