Uber Technologies, Inc. stock research
FY2025 Q2
Uber Technologies (UBER) Gross Margin — Quarter Ended Jun 30, 2025
Gross profit increased alongside higher revenue, while cost of revenue also rose, resulting in a gross margin that was stable with the prior quarter and improved compared to the same quarter last year.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Gross profit increased alongside higher revenue, while cost of revenue also rose, resulting in a gross margin that was stable with the prior quarter and improved compared to the same quarter last year.
- Gross margin remained essentially stable from the immediately preceding quarter, indicating that the relationship among revenue, cost of revenue, and gross profit did not shift materially. On a year-over-year basis, the gross margin improved, reflecting that gross profit grew at a slightly faster pace than revenue relative to the prior-year period.
- Compared to the previous quarter, gross margin weakened marginally. Relative to the same quarter one year ago, gross margin improved notably, supported by a higher proportion of revenue flowing through to gross profit.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.0%
Gross profit
$4.2B
Revenue
$12.7B
Cost of revenue
$8.5B
Quarter-over-quarter change
-0.2 pts
Year-over-year change
+0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $11.2B | $3.6B | $7.6B | 32.5% |
| Dec 31, 2024 | $12.0B | $3.9B | $8.0B | 33.0% |
| Mar 31, 2025 | $11.5B | $3.8B | $7.7B | 33.1% |
| Jun 30, 2025 | $12.7B | $4.2B | $8.5B | 33.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
-0.2 pts
Year-over-year change
Jun 30, 2024
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin remained essentially stable from the immediately preceding quarter, indicating that the relationship among revenue, cost of revenue, and gross profit did not shift materially. On a year-over-year basis, the gross margin improved, reflecting that gross profit grew at a slightly faster pace than revenue relative to the prior-year period.
Compared to the previous quarter, gross margin weakened marginally. Relative to the same quarter one year ago, gross margin improved notably, supported by a higher proportion of revenue flowing through to gross profit.
Monitor the trend in cost of revenue relative to revenue, as changes in this relationship could affect gross margin stability.