Uber Q4 Earnings: Revenue Up 18%, Profit Down 27% Amid AV Concerns

SAN FRANCISCO, Calif. — Uber Technologies is set to report its fourth-quarter earnings Wednesday, with analysts projecting an 18% year-over-year revenue increase to $11.76 billion. However, net income is expected to decline by 27% to $1.04 billion, partly due to a $1 billion net benefit from equity investment revaluations in Q4 2023.

All 25 analysts tracked by Visible Alpha rate Uber’s stock as a “buy,” with an average price target of $90.50, representing a 35% upside from Friday’s closing price. Despite the optimism, the company faces challenges, including concerns over autonomous vehicles (AVs) and competition from rivals like Lyft and Tesla.

Bank of America analysts recently noted that fears surrounding AVs, which contributed to Uber’s 2% stock decline in 2024, may be “overdone.” They predict better clarity this year on the timeline for AV adoption, which could present both opportunities and risks for the rideshare giant.

Uber has partnered with companies like Alphabet‘s Waymo and Aurora to advance its AV initiatives. Meanwhile, Tesla is also pushing to bring its autonomous vehicles to market, intensifying competition in the sector.

Uber’s stock gained 11% in January but remains flat over the past 12 months. The company’s earnings report will provide further insight into its financial health and strategic direction amid evolving market dynamics.