Uber Sees Growth Amid Market Concerns Over Booking Deceleration

San Francisco, CA — Uber Technologies Inc. announced that its consumer base grew by 14% year over year, reaching 170 million monthly active users in the first quarter of 2025. Despite these positive numbers, the company’s shares dropped 4% at the start of trading on May 7, after investors interpreted its forward-looking guidance as indicating potential deceleration in bookings growth.

CEO Dara Khosrowshahi highlighted the success of the company’s membership program, Uber One, which has now attracted 30 million subscribers. Khosrowshahi stated that the membership initiative significantly boosts cross-selling and drives bookings, particularly in the Delivery segment.

“Membership drives multiple long-term benefits to Uber,” Khosrowshahi said. “They spend more and they are more likely to try new services that we introduce.” He added that members tend to have higher retention rates, spending three times more than non-members.

In the Delivery segment, Uber reported an 18% increase in gross bookings compared to the previous year, with trip growth at 15%. The company is expanding its offerings beyond restaurants to include grocery and retail services.

Uber’s driver base grew by 20% to 8.5 million, contributing to an 18% increase in driver earnings, totaling $18.6 billion. Khosrowshahi pointed out that Uber’s current customer roster represents only 5% of the adult population, indicating further growth potential.

Despite the mixed market reactions, Khosrowshahi expressed optimism about the company’s future. “We are seeing a slightly higher mix of international trips, which is a result of current travel patterns,” he said. “Our audience growth remains solid at 14%, and we will continue to monitor market conditions.”

The company sees an anticipated growth rate of 16% to 20% in overall bookings moving forward. Amid ongoing macroeconomic challenges, Khosrowshahi assured investors of stable growth opportunities across Uber’s diverse services.