$Uber Tech(UBER.US) -2% premarket after providing 1Q Adj EPS guidance that fell short of ests. 1Q gross bookings guidance was above expectations. 4Q revs and bookings beat expectations. The company also promoted outspoken driverless-vehicle executive Balaji Krishnamurthy as its new CFO, signaling further investment in the autonomous ride-hailing business.
1Q guidance- Gross bookings $52B-$53.5B vs $51.4B est- Adj EBITDA $2.37B-$2.47B vs $2.45B est- Adj EPS $0.65-$0.72 vs $0.76 est4Q results- Gross bookings $54.1B vs $53.1B est- Mobility bookings $27.44B vs $27.14B est- Revs $14.37B vs $14.30B est- Adj Ebitda $2.49B vs $2.48B est - Adj EPS $.71 vs $.85 est (ex-one time items)- Trips 3.75B vs 3.66B est- Monthly active platform consumers 202M vs 196.1M estCOMMENTARY AND CONTEXT- Beginning in January 2026, following a UK tax law ruling, UBER will move from a merchant model to an agency model in UK (ex London). As a result of this shift, driver payments will be reclassified from cost of revenue to contra-revenue, which will reduce reported revs with no impact on profits.- UBER expects 1Q and 2026 Mobility revenue margin to be approximately 350 basis points lower, driven by this accounting reclassification- Q4 2025 net income included a $1.6 billion net headwind from revaluations of Uber’s equity investments- New CFO Balaji Krishnamurthy has been with Uber for six years and is currently VP of strategic finance and investor relations. He will replace current CFO Prashanth Mahendra-Rajah, who is leaving for another opportunity after less than three years after joining UBER in Nov 2023.The copyright of this article belongs to the original author/organization.
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