American ride-hailing company, Uber, has reported first-quarter results Wednesday that beat analysts’ expectations for earnings, but fell shy of anticipated revenue growth for the quarter. The company’s shares closed down 2.5%.
According to reports, the company grew about 14% in the first three months of 2025, up from $10.13 billion during the same period in 2024.
Uber also reported net income of around $1.78 billion or 83 cents per share, for the first quarter, up from a net loss of $654 million, or a loss of 32 cents per share, a year earlier.
Uber CEO, Dara Khosrowshahi and CFO, Prashanth Mahendra-Rajah said they expect gross bookings to reach between $45.75 billion and $47.25 billion during the current quarter, with adjusted earnings before interest, taxes, depreciation and amortization in the range of $2.02 billion to $2.12 billion for that period.
Uber’s largest business segments, which include its ride-hailing business and food and grocery delivery service, saw bookings increase year over year.
In the meantime, Uber’s RTO policy increased the number of in-person work days from two to three days. If this wasn’t enough of a change, the policy also took back approval for full-time remote work from those who had been previously approved to work from home.
It is also of note that Uber isn’t giving up on remote work entirely just yet, as the CEO explained that the company might still hire for remote roles, but “sparingly.”
