Uber Reverses on Latest Quarterly Figures

Uber (NASDAQ:UBER) reported first-quarter results Wednesday that beat analysts’ expectations for earnings, but fell shy of anticipated revenue growth for the quarter. Shares fell $5.15, or 6% following the report to $56.62.Earnings per share proved to be 83 cents vs. 50 cents expected. Revenue: $11.53 billion vs. $11.62 billion expected.Revenue at the ride-sharing company grew about 14% in the first three months of 2025, up from $10.13 billion during the same period in 2024.The company also reported net income of around $1.78 billion or 83 cents per share during the first three months of 2025, up from a net loss of $654 million, or a loss of 32-cent loss per share, during the first quarter of 2024.Uber CEO Dara Khosrowshahi and CFO ‭Prashanth Mahendra-Rajah said they expect gross bookings to reach between $45.75 billion and $47.25 billion during the current quarter, with EBITDA in the range of $2.02 billion to $2.12 billion for that period.In April, the Federal Trade Commission sued Uber and accused the company of “deceptive billing and cancellation practices” around its subscription service called Uber One.Khosrowshahi told the media on Wednesday he doesn’t understand the reason, adding 60% of the company’s gross bookings in its Uber Eats business come from Uber One members, and that the subscription service is growing quickly.