Uber reported better-than-expected revenue for the fourth quarter on Wednesday, although shares fell in premarket trading following the earnings release.
For the quarter ending in December, Uber posted adjusted earnings per share of 71 cents and revenue of $14.37 billion, slightly above the $14.32 billion expected by analysts. This represents a jump from $12 billion a year earlier.
The company’s mobility segment its ride-hailing platform generated $8.2 billion, up 19% from last year, while delivery revenue surged 30% to $4.9 billion, outperforming StreetAccount estimates of $4.72 billion.
Uber reported net income of $296 million, which included a $1.6 billion pre-tax loss from equity investment revaluations. This compares with net income of $6.88 billion a year earlier.
Gross bookings for the quarter totaled $54.1 billion, topping analyst expectations of $53.1 billion. The company expects first-quarter bookings to grow at least 17% year-on-year to between $52 billion and $53.5 billion.
Uber’s delivery business showed the strongest growth, expanding beyond restaurants into groceries and retail. Partnerships with companies such as OpenTable, Shopify, and retailers including Loblaws (Canada), Biedronka (Poland), Seiyu (Japan), and Coles (Australia) helped drive this expansion. CEO Dara Khosrowshahi noted that delivery growth was particularly strong in the Europe, Middle East, and Africa region.
The report comes amid a transition in the ride-hailing industry toward autonomous vehicles (AVs). Khosrowshahi reiterated his belief that AVs represent a “multi-trillion dollar opportunity” and said they “fundamentally amplify the strengths of our existing platform.”
In Atlanta and Austin, where Uber offered autonomous rides in 2025, overall trip growth accelerated even for human drivers. In San Francisco, where Uber has yet to deploy robotaxis, the presence of AVs has also contributed to overall market growth. By the end of 2026, Uber plans to facilitate autonomous trips in up to 15 cities worldwide, including Houston, Los Angeles, San Francisco, London, Munich, Hong Kong, Zurich, and Madrid. However, Khosrowshahi cautioned that AVs will remain a small part of the rideshare market for several years due to technological and regulatory hurdles.
Uber is also expanding its Uber One loyalty program, which encourages members to book more rides and make more purchases through the app, and is investing in its advertising business. Leveraging generative AI, the company is integrating ChatGPT to help users discover services and restaurants before completing checkouts.