TLDR
- Uber reports Q1 earnings before the bell Wednesday
- Revenue expected at $13.33B, up ~15% year over year; EPS forecast at $0.71
- Gross bookings projected at $52.9B, up ~23% YoY
- Uber has been expanding its robotaxi business with Lucid, Rivian, and Nuro partnerships
- UBER stock is down about 9% this year; EPS estimates have seen 10 cuts in 3 months
Uber reports Q1 earnings before the market opens Wednesday, and investors will be watching closely to see if the company’s profit story holds up.
Wall Street expects revenue of $13.33 billion, up around 15% from a year ago. Adjusted EPS is forecast at $0.71, with EBITDA of $2.44 billion.
Uber stock was trading around $74.25, down roughly 9% year to date heading into the report.
Gross bookings are projected at $52.9 billion, up about 23% year over year. That would land within Uber’s own guidance range of $52 billion to $53.5 billion.
Monthly Active Platform Consumers will also be in focus. Last quarter that figure hit 202 million, up 18% year over year — an acceleration from the 14% pace at the start of 2025.
Estimate revisions have not been encouraging. Over the past three months, analysts cut EPS expectations 10 times, compared to just one upward revision.
Robotaxi Push Gets Bigger
Uber has been making a series of autonomous vehicle moves heading into this report. The company created a new unit called Uber Autonomous Solutions to help partners build and launch AV fleets on its network.
In April, Uber increased its commitment to Lucid Motors (LCID) to $500 million and now holds more than 11% of the company. The planned robotaxi service will use Lucid EVs paired with Nuro’s Level 4 autonomous software.
Uber and its fleet partners also agreed to purchase 10,000 Rivian (RIVN) R2 robotaxis, with an option for 40,000 more in 2030. The $1.25 billion investment is tied to certain autonomous milestones, with $300 million already committed.
Initial deployments are planned for San Francisco and Miami in 2028, scaling to 25 cities by 2031. Hertz’s fleet management unit has been signed on to handle charging, cleaning, and maintenance when the service launches in the Bay Area later this year.
Beyond Rides
Uber also made a push into travel at its annual GO-GET showcase last week. A new hotel booking feature, powered by Expedia (EXPE), gives users access to over 700,000 properties.
Uber One members earn 10% back in credits on hotel bookings and get discounts at more than 10,000 properties. The feature also includes AI voice booking via OpenAI’s ChatGPT.
Regulatory pressure remains a factor, and costs are rising as Uber funds these big bets. Investors have been cautious, which is reflected in the stock’s performance this year.
GF Value puts UBER at $93.67, labeling it modestly undervalued at current levels.
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