Uber Technologies, Inc. reported a significant increase in financial performance for the first quarter of 2025, with revenue reaching $11.5 billion, a 14% increase from $10.1 billion in the same period of 2024. The company achieved a net income of $1.8 billion, a substantial turnaround from a net loss of $654 million in the previous year. This improvement was largely attributed to a 14% rise in Gross Bookings, which totaled $42.8 billion, driven by increased trip volumes in both the Mobility and Delivery segments.
In terms of operational metrics, Uber's Monthly Active Platform Consumers (MAPCs) grew to 170 million, marking a 14% increase year-over-year. The number of completed trips also rose to 3.0 billion, an 18% increase compared to the previous year. The Mobility segment saw a 15% increase in revenue to $6.5 billion, while the Delivery segment's revenue increased by 18% to $3.8 billion. However, the Freight segment experienced a slight decline in revenue, decreasing by 2% to $1.3 billion.
Strategically, Uber announced plans to acquire an 85% stake in Trendyol GO, a Turkish online meal and grocery delivery service, for approximately $700 million, pending regulatory approval. This acquisition is part of Uber's ongoing efforts to expand its market presence and enhance its service offerings. Additionally, the company completed a $1.5 billion accelerated share repurchase program during the quarter, reflecting its commitment to returning value to shareholders.
The filing also highlighted a decrease in total costs and expenses, which rose to $10.3 billion from $10.0 billion, primarily due to increased costs associated with driver payments and incentives. Notably, general and administrative expenses saw a significant reduction of 46%, down to $657 million, largely due to decreased legal-related accruals. The company ended the quarter with $6.0 billion in unrestricted cash and cash equivalents, positioning itself well for future investments and operational needs.
Looking ahead, Uber remains optimistic about its growth trajectory, anticipating continued increases in both revenue and user engagement. The company plans to focus on enhancing its platform offerings and expanding into new markets while navigating ongoing regulatory challenges related to driver classification and other legal matters.
About Uber Technologies, Inc
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