Uber Technologies, Inc. (UBER) caught investors' attention Wednesday with quarterly results that paint a picture of a company firing on most cylinders—even if earnings per share didn't quite hit the mark.

The ride-hailing and delivery giant reported revenue of $14.37 billion for its fiscal fourth quarter, representing 20% year-over-year growth and edging past the analyst consensus of $14.32 billion. The slight disappointment? Adjusted earnings of 71 cents per share missed expectations of 80 cents.

Breaking Down the Numbers

Here's where things get interesting. Uber's Mobility business—the core ride-hailing service that started it all—generated $8.20 billion in revenue, up 19% from last year. Delivery, which includes Uber Eats, posted even stronger growth at 30%, reaching $4.89 billion. Meanwhile, the Freight division remained flat at $1.27 billion.

Gross Bookings, which represents the total value of transactions on Uber's platform, climbed 22% to $54.14 billion. Mobility bookings hit $27.44 billion (up 20%), Delivery reached $25.43 billion (up 26%), and Freight bookings dipped slightly to $1.27 billion (down 1%).

The platform facilitated 3.75 billion trips during the quarter, a 22% increase year-over-year. Perhaps most impressively, Uber's Monthly Active Platform Consumers reached 202 million—an 18% jump that means more people than the entire population of Brazil are now using Uber services monthly.

On the profitability front, adjusted EBITDA came in at $2.49 billion, up a healthy 35% year-over-year, with Mobility driving most of that gain. The adjusted EBITDA margin as a percentage of Gross Bookings improved to 4.6% from 4.2% the previous year. Uber closed the quarter with $7.6 billion in unrestricted cash and equivalents and generated $2.81 billion in free cash flow.

Leadership Changes at the Top

In a significant executive move, Uber announced that Balaji Krishnamurthy will take over as CFO on February 16, 2026, replacing Prashanth Mahendra-Rajah.

CEO Dara Khosrowshahi praised the outgoing CFO's contributions: "I want to thank Prashanth for everything he's done for Uber. He's been a great partner in getting us to investment-grade status, spearheading our first share repurchase program, and steering us through several major acquisitions. We all wish him the best in an exciting new opportunity that he will share more about soon."

What Management Is Saying

"Uber accelerated into another record-breaking quarter, with more than 200 million monthly users completing more than 40 million trips every day—our largest and most engaged consumer base ever," Khosrowshahi said. "We enter 2026 with a rapidly growing topline, significant cash flow, and a clear path to becoming the largest facilitator of AV trips in the world."

That autonomous vehicle mention isn't just corporate speak. During the earnings call, Khosrowshahi revealed that autonomous vehicles on Uber's platform see significantly higher utilization than standalone AV networks, with margins comparable to other platform offerings.

Incoming CFO Krishnamurthy noted that after five years of maintaining over 20% growth, Uber enters 2026 with strong momentum and remains on track to hit its three-year growth and profitability targets.

Looking Ahead

For the first quarter of fiscal 2026, Uber expects gross bookings between $52.0 billion and $53.5 billion, implying 17% to 21% growth. Adjusted EBITDA is projected at $2.37 billion to $2.47 billion.

The company guided for quarterly adjusted EPS of 65 cents to 72 cents, which falls short of the analyst consensus estimate of 75 cents—suggesting the earnings miss may continue into the new quarter.

Despite the softer EPS outlook, investors seemed focused on the growth story. Uber shares climbed 2.31% to $79.73 in premarket trading Wednesday.