Uber Technologies (NYSE:UBER) reported $11.53 billion in Q1 revenue—up 14% year-over-year but missing the $11.62 billion consensus—as its ride-hailing growth slowed to post-pandemic lows.
Q1 Segment Performance
Mobility (Ride-Hailing): +15% revenue growth, down sharply from post-COVID peaks, reflecting consumers’ shift to more budget-friendly options.
Delivery: +18% revenue, in line with Street forecasts, with meal and grocery demand holding firm.
Total vs. Estimates: $11.53 billion actual vs. $11.62 billion expected.
Fighting Price Sensitivity
To retain riders, Uber introduced the Price Lock Pass in February—a $2.99/month subscription guaranteeing fixed fares on select routes. This mirrors Lyft’s approach and aims to stabilize Mobility revenue amid fare competition.
Q2 Outlook & FX Headwinds
Gross Bookings Guidance: $45.75 billion–$47.25 billion for Q2, narrowly below the $45.83 billion consensus.
Currency Impact: A 1.5% drag on total bookings and 3% on Mobility bookings as a stronger U.S. dollar weighs on international revenues.
Adjusted EBITDA Forecast: $2.02 billion–$2.12 billion (versus $2.04 billion Street estimate).
Key Upcoming Catalyst
Uber’s Q2 earnings release—where management will detail booking trends and subscription uptake—will be a critical test of whether Price Lock Pass can shore up Mobility growth. You can track the exact date and time of Uber’s next earnings report via the Earnings Calendar API to ensure you’re ready for any updates on guidance and segment performance.
What to Watch
Subscription Uptake: Early Q2 metrics on Price Lock Pass adoption—vital for assessing its impact on rider retention.
Gross Bookings Trends: Monthly booking snapshots and driver incentives will reveal demand elasticity.
EBITDA Execution: How well Uber manages costs as it invests in promotions and new initiatives.
By combining real-time guidance with the earning-date alerts from the Earnings Calendar API, investors can gauge whether Uber’s new pricing strategies and delivery strength will offset headwinds in its core ride-hailing business.
