Uber's Q4 Revenue Jumps 20% Thanks to Food Delivery Boost

• Delivery revenue surged 30% to $4.9 billion, exceeding analyst expectations of $4.72 billion, driven by expansion in groceries, retail, and international partnerships across Europe, Middle East, Africa, and Asia-Pacific markets
• Gross bookings reached $54.1 billion for the quarter, topping estimates of $53.1 billion, with Q1 2026 bookings expected to grow at least 17% to between $52 billion and $53.5 billion
• Uber plans to facilitate autonomous vehicle trips in up to 15 cities globally by end of 2026 and aims to become the world's largest AV trip facilitator by 2029, though AVs will remain a small portion of rides for several years

Uber Q4 Earnings Summary

Financial Performance:

Uber reported Q4 revenue of $14.37 billion, exceeding analyst estimates of $14.32 billion and marking a 20% increase from $12 billion year-over-year. Net income reached $296 million, significantly down from $6.88 billion in the prior year, impacted by a $1.6 billion pre-tax headwind from equity investment revaluations. Gross bookings totaled $54.1 billion, surpassing the $53.1 billion estimate.

Business Segment Results:

• Mobility (ride-hailing): Revenue of $8.2 billion, up 19% year-over-year, slightly below the $8.3 billion estimate
• Delivery: Revenue of $4.9 billion, up 30% year-over-year, exceeding the $4.72 billion estimate

The delivery segment drove the strongest growth, fueled by expansion beyond restaurants into groceries and retail through partnerships with OpenTable, Loblaws (Canada), Biedronka (Poland), Seiyu (Japan), and Coles (Australia). Delivery growth was particularly strong in Europe, Middle East, and Africa.

Strategic Outlook:

CEO Dara Khosrowshahi emphasized autonomous vehicles as a "multitrillion-dollar opportunity." Uber expects to facilitate AV trips in up to 15 cities globally by end of 2026, including Houston, Los Angeles, San Francisco, London, Munich, Hong Kong, Zurich, and Madrid. The company aims to become the world's largest AV trip facilitator by 2029. Data from Atlanta and Austin showed AV deployment "significantly accelerated" overall trip growth, including for human drivers.

Q1 Guidance:

Gross bookings projected between $52-$53.5 billion, representing at least 17% year-over-year growth.

Additional Initiatives:

Uber is expanding its Uber One membership program and integrating with ChatGPT for enhanced service discovery.