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Uber Technologies Inc. reported its fourth-quarter earnings on Wednesday, revealing a revenue of $14.37 billion. This figure exceeded analyst expectations of $14.32 billion and marked an increase from $12 billion in the same quarter last year.
The company’s adjusted earnings per share stood at 71 cents. However, net income for the quarter was $296 million, a significant drop from $6.88 billion reported a year prior.
The revenue generated from Uber's mobility segment, which includes its ride-hailing platform, totaled $8.2 billion. This represents a 19% increase compared to the previous year.
Additionally, the delivery segment, which encompasses services like Uber Eats, saw a substantial growth of 30%, bringing in $4.9 billion. Analysts had anticipated mobility revenue of $8.3 billion and delivery revenue of $4.72 billion, according to StreetAccount.
Uber also reported gross bookings of $54.1 billion for the quarter, surpassing the average analyst estimate of $53.1 billion.
Looking ahead, Khosrowshahi indicated that gross bookings for the first quarter of 2026 are projected to increase by at least 17% year-over-year, with expectations ranging between $52 billion and $53.5 billion.
Uber's delivery growth was particularly strong in the Europe, Middle East, and Africa (EMEA) region. The company's expansion into delivery includes partnerships with brands such as OpenTable and Shopify, allowing Uber to serve not just restaurants but also groceries and retail items.
These collaborations are driving the company’s growth in this segment.
During the earnings call, CEO Dara Khosrowshahi emphasized the potential of autonomous vehicles (AVs) as a multi-trillion dollar opportunity. He stated that Uber plans to facilitate AV trips in up to 15 cities worldwide by the end of 2026.
Notable cities for this expansion include Houston, Los Angeles, and San Francisco, as well as international locations like London, Munich, Hong Kong, Zurich, and Madrid. Khosrowshahi noted that autonomy will enhance the strengths of Uber's existing platform.
Despite the promising outlook, Khosrowshahi cautioned that autonomous vehicles are likely to represent a small fraction of the rideshare market for several years due to various challenges. Additionally, Uber is focused on growing its Uber One program, which encourages members to book more rides and purchase more items through the platform.
The company is also investing in its advertising business and exploring integrations with generative artificial intelligence, such as ChatGPT, to enhance customer engagement and service discovery.
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