Uber Technologies, Inc. stock research
FY2025 Q3
Uber Technologies (UBER) Gross Margin — Quarter Ended Sep 30, 2025
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit and gross margin improved sequentially and year-over-year, indicating that gross profit grew faster than cost of revenue.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit and gross margin improved sequentially and year-over-year, indicating that gross profit grew faster than cost of revenue.
- The strongest observable margin driver is the improvement in gross margin from the prior quarter and the year-ago quarter, reflecting a favorable relationship between revenue and cost of revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, all three metrics also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.5%
Gross profit
$4.5B
Revenue
$13.5B
Cost of revenue
$9.0B
Quarter-over-quarter change
+0.5 pts
Year-over-year change
+1.0 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 |
|---|---|---|---|---|
| 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% |
| Sep 30, 2025 | $13.5B | $4.5B | $9.0B | 33.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+0.5 pts
Year-over-year change
Sep 30, 2024
+1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the improvement in gross margin from the prior quarter and the year-ago quarter, reflecting a favorable relationship between revenue and cost of revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, all three metrics also improved.
Monitor the trend in cost of revenue relative to revenue, as its growth rate could affect future gross margin stability.