Loading blog posts...
August 7, 2025 • 3 min read
Uber has navigated a long road from a disruptive startup to a global powerhouse, and its latest financial report for the second quarter of 2025 offers a clear look at its current trajectory. By diving into its 10-Q filing with the SEC, we can see how the company is performing, where its money is coming from, and how it's being spent. The results point to a business that is not only growing its top line but is also becoming increasingly profitable and cash-generative.
Uber's financial performance in the second quarter of 2025 was robust. The company reported total revenue of $12.65 billion, an impressive 18% increase from the $10.70 billion generated in the same quarter last year. This growth wasn't just on paper; it translated directly to the bottom line.
Net income attributable to Uber reached $1.36 billion, up from $1.02 billion a year prior. Even more telling is the income from operations, which surged 82% to $1.45 billion. This indicates that the core business is running more efficiently than ever. This operational strength is backed by growing user engagement, with total trips increasing by 18% to nearly 3.3 billion and the number of Monthly Active Platform Consumers (MAPCs) climbing 15% to 180 million.
To better understand how Uber's revenue flows through its operations to become profit, the following chart breaks down the major income and expense categories for the second quarter.
Please log in to view diagrams.
Uber's business is divided into three main segments, each with its own strategic focus.
Mobility: The original ride-hailing business remains the largest and most profitable engine. It generated $7.29 billion in revenue, a 19% year-over-year increase. Its Segment Adjusted EBITDA—a measure of profitability that excludes certain corporate and unallocated expenses—grew 22% to $1.91 billion, showcasing the segment's continued strength and efficiency.
Delivery: Home to Uber Eats, this segment is a powerful growth driver. Revenue jumped 25% to $4.10 billion, while its Segment Adjusted EBITDA surged an impressive 48% to $0.87 billion. This significant margin improvement was fueled not only by higher order volumes but also by a growing advertising business within the Delivery platform.
Freight: The logistics arm of the business operated in what the filing calls a "challenging freight market." Revenue was nearly flat at $1.26 billion, a 1% decrease. However, the segment showed significant operational improvement, narrowing its Adjusted EBITDA loss to just $6 million from a $12 million loss a year ago.
Beyond the strong operational numbers, Uber's filing reveals two major strategic initiatives that signal confidence in its future.
First, in June 2025, the company completed the acquisition of an 85% stake in Trendyol GO, a meal and grocery delivery business in Türkiye, for approximately $697 million in cash. This move expands Uber's footprint in a key international market and underscores its commitment to growth through strategic acquisitions.
Second, and perhaps more significantly for investors, Uber's board authorized a new $20.00 billion share repurchase program in July 2025. This comes on top of an existing program and is a powerful statement about the company's financial health and its ability to generate substantial free cash flow—which reached $4.73 billion for the first half of the year.
While Uber continues to face regulatory challenges, particularly regarding the classification of its drivers as independent contractors, its Q2 2025 results paint a clear picture. The company is successfully leveraging its scale to drive both growth and profitability, turning its operational success into tangible returns for shareholders and strategic investments for the future.
Last updated: August 7, 2025