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(Sharecast News) - Uber Technologies reported record demand and cash generation in the fourth quarter of 2025 on Wednesday, but shares fell after the company issued profit guidance for early 2026 that fell short of market expectations and announced a chief financial officer transition tied to heavier investment in autonomous vehicles.
The company said quarterly trips rose 22% year on year to 3.8 billion, while gross bookings increased 22% to $54.1bn, driven by an 18% rise in monthly active platform consumers to a record 202 million.
Revenue grew 20% to $14.4bn, supported by strong performances in both mobility and delivery.
GAAP income from operations surged 130% to a record $1.8bn, while adjusted EBITDA climbed 35% to $2.5bn.
Operating cash flow reached $2.9bn and free cash flow hit $2.8bn, both quarterly records.
Net income attributable to Uber fell sharply to $296m from $6.9bn a year earlier, largely reflecting a $1.6bn pre-tax headwind from revaluations of equity investments, compared with large tax and valuation benefits in the prior-year quarter.
On a non-GAAP basis, earnings were stronger, with adjusted EPS rising 27% to $0.71.
For the full year, Uber generated $193.5bn of gross bookings, up 19%, with revenue rising 18% to $52.0bn.
Adjusted EBITDA increased 35% to $8.7bn, while free cash flow rose 42% to $9.8bn, underscoring what the company described as growing operating leverage after several years of rapid expansion.
Chief executive Dara Khosrowshahi said Uber entered 2026 with "our largest and most engaged consumer base ever," adding that the group had "a clear path to becoming the largest facilitator of AV trips in the world."
Incoming chief financial officer Balaji Krishnamurthy said Uber would invest its growing free cash flows "with discipline" to position the company to win in an autonomous future.
That strategy came into sharper focus with the announcement that Krishnamurthy would replace Prashanth Mahendra-Rajah as CFO from mid-February, as Uber stepped up spending with autonomous-vehicle partners.
The company said it expected to offer robotaxi services alongside human-driven rides in more than 10 markets by the end of this year, including Houston, Hong Kong, Madrid and Zurich, working with existing partners.
Despite the strong finish to 2025, investors focussed on softer profit guidance for the current quarter.
Uber forecast first-quarter adjusted EPS of 65cents to 72cents, below analyst expectations, even as it projected gross bookings of $52.0bn to $53.5bn, ahead of forecasts.
Khosrowshahi said lower insurance costs, strong driver supply and new products were creating a "healthier pricing environment" that should support margin expansion over the year.
At 0916 ET (1416 GMT), shares in Uber Technologies were down 0.12% in premarket trading in New York at $77.88.
Reporting by Josh White for Sharecast.com.