In Q4 2025, Uber reported 3.8 billion trips, a 22% year-over-year increase, supported by 202 million monthly active consumers (up 18%) and a 3% rise in trips per user. Gross bookings climbed 22% to $54.1 billion (constant currency growth also 22%), while revenue rose 20% to $14.4 billion (19% cc). GAAP income from operations more than doubled to $1.8 billion, and GAAP net income attributable to the company was $296 million, reflecting a $1.6 billion pre-tax headwind from equity investment revaluations. Adjusted EBITDA grew 35% to $2.5 billion, lifting the margin to 4.6% of gross bookings. On a non-GAAP basis, operating income surged 46% to $1.9 billion (3.5% of bookings), net income rose 25% to $1.5 billion, and EPS increased 27% to $0.71. Operating cash flow reached $2.9 billion, free cash flow was $2.8 billion, and unrestricted liquidity stood at $7.6 billion.

For the full year ended December 31, 2025, trips grew 20% to 13.6 billion, while gross bookings rose 19% to $193.5 billion (20% cc) and revenue increased 18% to $52.0 billion. GAAP operating income nearly doubled to $5.6 billion, and GAAP net income climbed 2% to $10.1 billion, driving diluted EPS to $4.73 (up 4%). Adjusted EBITDA expanded 35% to $8.7 billion, non-GAAP operating income jumped 50% to $6.45 billion, non-GAAP net income rose 32% to $5.24 billion, and non-GAAP EPS increased 35% to $2.45. Operating cash flow was $10.1 billion (up 42%), with free cash flow at $9.8 billion (up 42%), underscoring the company’s robust cash generation.

Uber projects Q1 2026 gross bookings between $52.0 billion and $53.5 billion, implying constant currency growth of 17% to 21%. Non-GAAP EPS guidance is $0.65 to $0.72, representing 37% year-over-year growth at the midpoint. This outlook corresponds to adjusted EBITDA of $2.37 billion to $2.47 billion, signaling ongoing operating leverage and disciplined investment in high-return opportunities, including autonomous vehicle initiatives.