Uber’s financials for fiscal 2025 (year to 31 December 2025): Gross Bookings of $193.5 billion, revenue of $52.0 billion (up 18%), income from operations of $5.6 billion (up 99%) and free cash flow of $9.8 billion, according to its Form 10-K. Net income of $10.1 billion looks larger than the business earned because it includes a $5.0 billion one-off tax benefit. In the third quarter of 2026 revenue rose 10% to $14.8 billion and operating income 30% to $1.4 billion.
How to read Uber's financials
The latest figures, 2026
Gross Bookings rose 20% to $59.8 billion in the third quarter of 2026 and revenue 10% to $14.8 billion. A business model change in some UK markets from 2 January 2026, driven by regulatory and tax considerations, reduced revenue by $1.1 billion, because driver payments there are now netted from revenue.
From the first quarter of 2026 Uber reports Segment Operating Income instead of Segment Adjusted EBITDA. In Q3 2026 Mobility earned $2.36 billion (+27%), Delivery $1.06 billion (+30%) and Freight lost $33 million.
Q3 2026 net income was $512 million, down 92%, after a $476 million pre-tax loss on revaluing equity stakes, including Grab and Aurora. Income from operations rose 30% to $1.45 billion in the same quarter.
Free cash flow was $7.6 billion in the nine months to 30 September 2026. For its proposed takeover of Delivery Hero, offered at €41.50 per share, Uber signed a €14.2 billion bridge credit agreement in July 2026, later cut by a €4.0 billion term loan.
Uber's key figures
What it means for you
- Use income from operations and free cash flow to judge Uber's earnings; net income carries tax releases and equity revaluations.
- Compare revenue growth with Gross Bookings growth; a gap usually means an accounting or business model change, as in the UK in 2026.
- Note the switch to Segment Operating Income before comparing 2026 segment profits with older Adjusted EBITDA figures.
- Watch Freight separately: it adds revenue but has not made a segment profit in the periods shown.
- Track the Delivery Hero financing; a deal of this size would change Uber's balance sheet.
Uber’s financials show a marketplace past its scale point: in 2025 operating income grew 99% while revenue grew 18%. The Business Engineer reads the next question as capital allocation, whether that cash goes into acquisitions such as Delivery Hero, autonomous partnerships or returns to shareholders.
Read: Marketplace Business Models →Explore everything we publish →Related: Uber revenue · Is Uber profitable? · Uber revenue breakdown · Uber losses by year · Financial statements
Frequently asked questions
What was Uber's revenue in 2025?
$52.0 billion in fiscal 2025, up 18%: Mobility $29.7 billion, Delivery $17.2 billion and Freight $5.1 billion.
Is Uber profitable?
Yes. Income from operations was $5.6 billion in fiscal 2025 and $1.45 billion in the third quarter of 2026.
Why was Uber's 2025 net income so high?
It includes a one-off $5.0 billion tax benefit from releasing a Netherlands valuation allowance, so it overstates the operating business.
How much cash does Uber generate?
$10.1 billion of operating cash flow and $9.8 billion of free cash flow in fiscal 2025, and $7.6 billion of free cash flow in the first nine months of 2026.
Sources
- Uber Technologies, Inc. (2026), Annual Report on Form 10-K for fiscal 2025, SEC
- Uber Technologies, Inc. (2026), Form 10-Q for the quarter ended 30 September 2026, SEC
- Uber Technologies, Inc. (2025), Annual Report on Form 10-K for fiscal 2024, SEC
The full guide
The complete explainer, cleaned up and reformatted for mobile.
Uber’s 2025 financials: $52.0 billion of revenue, $5.6 billion of operating income and $10.1 billion of operating cash flow. In Q2 2026 it reported $58.0B of gross bookings (+24%), $14.2B of revenue (+12%) and $1.9B of operating income.
Sources: Uber Q2 2026 earnings release (Form 8-K, SEC EDGAR). Analysis by The Business Engineer.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q and earnings releases, or its annual report), with the period stated next to each number. Last refreshed October 2026. Our methodology.
| Figure | Value |
|---|---|
| Revenue, 2025 filing | $52.0B |
| Growth vs 2024 calculated | +18% |
| Operating income, 2025 filing | $5.6B (11% margin) |
| Net income, 2025 filing | $10.1B |
Source: Uber Form 10-K (2025). Calculated figures are labelled.
Uber follows a platform business model, where it has a core business (mobility) and it built other two important segments in the last years: Delivery (Uber Eats) and Freight.
Company explainer · Uber, explained
A 3-minute explainer of Uber's business model and latest numbers, built from its SEC filings. Analysis by The Business Engineer.
Uber in charts
More on Uber Financials and its peers
How to read Uber’s financials
Start with gross bookings, the total value of rides, deliveries and freight on the platform, then revenue, the slice Uber keeps. In Q2 2026, $58.0 billion of bookings became $14.2 billion of revenue. Revenue grew more slowly than bookings (12% vs 24%) because of business model changes in some markets, which Uber says cut about 8 points from revenue growth.
Then operating income, which shows the turnaround: from an $8.6 billion operating loss in 2019 to a first full-year profit in 2023 and $5.6 billion in 2025. Net income is noisier because it includes revaluations of Uber’s stakes in other companies; Q2 2026 net income of $2.4B included a $1.6B pre-tax gain on those stakes.
Finally cash: Uber generated $10.1 billion of operating cash flow in 2025 and $2.8 billion of free cash flow in Q2 2026 alone. More detail: Uber revenue, Uber losses by year and revenue by segment.
Frequently asked questions
Is Uber profitable?
Yes. Uber made $5.6 billion of operating income in 2025 and $1.9 billion in Q2 2026, after losing money every year from 2017 to 2022 at the operating level.
What was Uber’s revenue in 2025?
$52.0 billion: Mobility $29.7B, Delivery $17.2B and Freight $5.1B (Form 10-K).
How much cash does Uber generate?
$10.1 billion of operating cash flow in 2025, and $2.8 billion of free cash flow in Q2 2026.
