Uber Technologies (NYSE:UBER) delivered record results for Q4 2025, beating revenue expectations but missing on the bottom line. Total revenue rose 20% year-over-year to $14.37 billion, driven by a 22% surge in trips that reached a 15 billion annual run rate. While Mobility revenue grew 19%, the Delivery segment was the standout performer, jumping 30% as the company successfully expanded beyond restaurant delivery into grocery and retail. More importantly, Uber hit a significant milestone with $10 billion in annual free cash flow and saw its first breakeven quarter for the Freight division.
The quarterly call focused heavily on Uber’s “autonomous facilitator” strategy, with management projecting AV operations in 15 cities by the end of 2026. Despite the top-line strength, EPS of $0.71 missed the $0.78 consensus due to $1.6 billion in headwinds from equity investment revaluations. Also questioned was the Q1 guidance, which projected EBITDA slightly below expectations and hinted at a slowdown in North American user growth.
For more details, key highlights, and commentary, check out the high-level earnings summary.
