A month has gone by since the last earnings report for Uber Technologies (UBER Quick QuoteUBER - Free Report) . Shares have added about 0.3% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Uber due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Uber Technologies, Inc. before we dive into how investors and analysts have reacted as of late.

UBER Q4 Earnings Miss Estimates

Uber Technologies reported mixed fourth-quarter 2025 results, wherein earnings missed the Zacks Consensus Estimate while revenues surpassed the mark. Quarterly earnings per share of 71 cents missed the Zacks Consensus Estimate of 79 cents and declined 77.8% year over year.

Total revenues of $14.3 billion outpaced the Zacks Consensus Estimate of $14.2 billion. The top line jumped 20.1% year over year on a reported basis and 19% on a constant currency basis.

In the reported quarter, the majority (57.1%) of the company’s revenues came from Mobility. Revenues from this segment jumped 19% year over year on a reported basis and 18% on a constant currency basis to $8.20 billion. Revenues from the Delivery segment increased 30% year over year on a reported basis and 29% on a constant currency basis to $4.89 billion. Freight revenues were $1.27 billion, almost flat year over year on a reported basis and down 1% on a constant currency basis.

Adjusted EBITDA in the fourth quarter surged 35% year over year to $2.48 billion. The reported figure lies within the guided range of $2.41 billion to $2.51 billion.

Gross bookings from Mobility improved 20% year over year on a reported basis and 19% on a constant currency basis to $27.44 billion. Gross bookings from Delivery augmented 26% year over year on a reported basis as well as on a constant currency basis to $25.43 billion. Gross bookings from Freight came in at $1.26 million in the fourth quarter, down 1% year over year on a reported basis as well as on a constant currency basis.

Total gross bookings ascended 22% year over year on a reported basis as well as on a constant currency basis to $54.14 billion. The reported figure lies above the guided range of $52.25 billion to $53.75billion.

Uber exited the fourth quarter with cash and cash equivalents of $7.10 billion compared with $8.43 billion at the end of the prior quarter. Long-term debt, net of the current portion, was $10.5 billion compared with $10.6 billion at the end of the prior quarter.

Operating cash flow was $2.88 billion in the reported quarter. The free cash flow was $2.80 billion.

UBER’s 1Q26 Guidance

For the first quarter of 2026, Uber expects gross bookings of$52.00 billion to $53.50 billion, indicating year-over-year growth of 17-21% on a constant currency basis.

Adjusted EPS is expected to be in the range of $0.65-$0.72, reflecting year-over-year growth of 37% at the midpoint. The adjusted EBITDA is estimated to be in the range of $2.37 billion-$2.47 billion.

How Have Estimates Been Moving Since Then?

It turns out, estimates revision have trended downward during the past month.

The consensus estimate has shifted -6.99% due to these changes.

VGM Scores

At this time, Uber has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Uber has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.