Uber Technologies (UBER) reported robust Q1 results for 2025, highlighting a significant rise in free cash flow and profitability across its core business segments. The company generated $2.3 billion in free cash flow, marking a 66% increase year-over-year, and reported $1.2 billion in operating income alongside $1.8 billion in net income.
Revenue for the quarter reached $11.5 billion, up 14% from the same period last year. Adjusted EBITDA, Uber’s preferred profitability metric, rose 35% year-over-year to $1.9 billion, with a margin improvement to 4.4% of gross bookings.
Uber’s Mobility and Delivery segments both posted solid growth. Mobility gross bookings rose 13% to $21.2 billion, while Delivery bookings increased 15% to $20.4 billion. The Freight segment, however, saw a slight decline, down 2% year-over-year. Trip volume increased 18% to 3 billion, driven by a 14% rise in Monthly Active Platform Consumers (MAPCs) and a 3% increase in trips per user.
Words From Management and Guidance
“Our core business continues to perform well,” said CEO Dara Khosrowshahi, citing stronger user retention and ongoing investments in autonomous vehicle partnerships. CFO Prashanth Mahendra-Rajah added that the company is focused on disciplined capital allocation and remains on track with its multi-year financial targets.
Uber ended the quarter with $6 billion in unrestricted cash and short-term investments and repurchased $1.8 billion worth of stock.
The company expects gross bookings in Q2 to fall between $45.75 billion and $47.25 billion, representing 16% to 20% growth on a constant currency basis. Adjusted EBITDA is projected between $2.02 billion and $2.12 billion.
Uber’s results signal strong financial momentum as the company continues to expand its platform while maintaining operational efficiency.
