Uber posts strong Q4 growth: Delivery leads gains; autonomy plans take shape now
Uber reported strong fourth-quarter revenue growth, led by a sharp rise in its delivery business. Ride-hailing revenue also increased, but profits fell due to investment losses and higher taxes. The company’s shares declined after weak first-quarter profit guidance, even as Uber highlighted long-term plans around autonomous vehicles and platform expansion.
Q4 revenue
Uber said its revenue rose to $14.37 billion in Q4, up from $12 billion a year earlier. This was slightly higher than market expectations. Overall revenue grew about 20% year over year, showing steady demand across the platform. The company reported earnings per share of 71 cents on an adjusted basis. However, investors reacted negatively after Uber gave weak guidance for Q1 profits. Its stock fell after the earnings call, despite the strong revenue numbers.
Delivery business
The delivery segment was Uber’s fastest-growing business in the quarter. Delivery revenue rose 30% from a year earlier to $4.9 billion, beating analyst estimates. The business now includes restaurant orders, groceries, and retail items. Uber said partnerships played a key role in this growth. These include OpenTable and Shopify, as well as major retailers such as Loblaws in Canada, Biedronka in Poland, Seiyu in Japan, and Coles in Australia. CEO Dara Khosrowshahi said delivery growth was strongest in Europe, the Middle East, and Africa.
Mobility business
Uber’s mobility business, which includes ride-hailing, generated $8.2 billion in revenue. This marked a 19% increase from the same period last year. The company said it had 202 million monthly active users in Q4, up 18% year over year. Net income fell sharply to $296 million. Uber said this was mainly due to a $1.6 billion pre-tax loss linked to changes in the value of its equity investments. Gross bookings reached $54.1 billion, topping analyst expectations.
Autonomous vehicles
Uber said it remains confident about autonomous vehicles, even though they will take time to scale. Khosrowshahi said self-driving technology could create a multitrillion-dollar opportunity and strengthen Uber’s platform. The company said trip growth increased in cities such as Atlanta and Austin, where autonomous rides were offered in 2025. Uber plans to support autonomous trips in up to 15 cities worldwide by the end of 2026. These include Houston, Los Angeles, San Francisco, London, Munich, Hong Kong, Zurich, and Madrid. Uber is also expanding its Uber One subscription program and investing in advertising. It is testing tools powered by generative AI, including ChatGPT, to help users find services and restaurants more easily.