Dara Khosrowshahi, CEO, Uber Technologies speaks during the third day of the FII PRIORITY Summit held at the Faena Hotel on February 21, 2025 in Miami Beach, Florida.
Net income nearly tripled to $6.6 billion, or $3.11 per share, from $2.6 billion, or $1.20 per share, in the year-ago period. Adjusted earnings before interest, taxes, depreciation and amortization rose 33% to about $2.26 billion and was roughly in line with StreetAccount's estimate.
Revenue jumped 20% from $11.2 billion in the year-ago period. Gross bookings increased 21% to $49.74 billion and surpassed the $48.95 billion expected by StreetAccount.
"This was our strongest growth since the end of 2023 and the largest trip volume increase in Uber's history outside the post-Covid rebound," said CEO Dara Khosrowshahi in prepared remarks.
Uber shares fell 6% in early trading Tuesday even after the ride-hailing company beat Wall Street's third-quarter revenue expectations.
Uber said its net income included a $4.9 billion benefit from a tax valuation release and a $1.5 billion net pretax benefit from reevaluations of equity investments.
For the fourth quarter, Uber forecast gross bookings between $52.25 billion and $53.75 billion, versus a StreetAccount estimate of $52.10 billion. The company expects adjusted EBITDA to range between $2.41 billion and $2.51 billion, versus $2.47 billion expected by StreetAccount.
Khosrowshahi said the company's focus on innovation and affordability drove strong trips and gross bookings for the period.
Uber's monthly active platform consumers increased 17% to 189 million. The company said it logged 3.5 billion trips during the quarter, up 22% from a year ago.
"At this point we see blue skies," Khosrowshahi told CNBC's "Squawk Box" on Tuesday. "Obviously, we are watching out in terms of the economies, the global economies, but at this point, the business continues to hit on all cylinders."
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