Uber Q1 Delivery Soars 34%, Uber One Hits 50M Members, Lime Files IPO
UBER•Uber posted 14.5% Q1 revenue growth, with delivery revenue up 34% y/y, boosting adjusted EBITDA 33% to $2.5B and lifting operating margin to 14.3%. Uber One membership exceeded 50 million and now drives half of gross bookings, while Uber-backed Lime filed confidentially for a Nasdaq IPO.
1. Q1 Financial Performance
Uber reported 14.5% year-over-year revenue growth in Q1, driven by robust performance in its delivery segment, which rose 34% y/y. Adjusted EBITDA climbed 33% to $2.5 billion, and operating margin expanded to 14.3%, marking a significant improvement in profitability.
2. Uber One Membership Milestone
Uber One membership surpassed 50 million subscribers, who now account for half of the platform’s gross bookings across mobility and delivery. This milestone underscores the growing importance of subscription services in stabilizing revenue and enhancing customer loyalty.
3. Lime IPO Filing
Lime, in which Uber holds a strategic stake, submitted a confidential S-1 to pursue a Nasdaq IPO. The filing positions Lime to leverage public markets for expansion in its electric scooter and bike rental network.
