10:33 AM EST, 11/04/2025 (MT Newswires) -- Uber Technologies' ( UBER ) third-quarter results exceeded market estimates as trips grew by more than 20%, although the ride hailing company issued a bookings outlook that implied a sequential slowdown in annual growth at the mid-point of the range.

Gross bookings, which indicate the scale of the company's current platform, are expected to be in a range of $52.25 billion to $53.75 billion for the fourth quarter, representing year-over-year growth of 17% to 21% on a constant currency basis. The current consensus on FactSet is for bookings of $52.19 billion.

In the previous quarter, Uber's ( UBER ) bookings improved 21% to $49.74 billion, driven by mobility and delivery gains. The Street's view was for consolidated bookings of $49.01 billion.

The stock fell 6.5% in Tuesday trade, trimming its year-to-date rally to about 54% so far this year.

The company reported net income of $3.11 a share for the September quarter, surging from $1.20 the year before and surpassing the average analyst estimate on FactSet of $0.69. The result included a $4.9 billion benefit from a tax valuation release.

"We delivered another impressive quarter on both the top and bottom lines, with accelerating growth and record profitability," Chief Financial Officer Prashanth Mahendra-Rajah said in a statement. "This consistent execution positions us very well to invest in the many accretive growth opportunities ahead, while maintaining our commitment to returning capital to shareholders."

Trips rose 22% to 3.51 billion on a yearly basis, while monthly active platform consumers rose 17%, according to the company. Revenue climbed 20% and 19% on reported and currency neutral bases to $13.47 billion, exceeding the Street's forecast of $13.28 billion.

"After three consecutive quarters of 18% trip growth, we delivered 22% trip growth this quarter, driven by 21% mobility trip growth, well ahead of our expectations," Chief Executive Dara Khosrowshahi said in remarks prepared for an earnings conference call. "This was our strongest growth since the end of 2023 and the largest trip volume increase in Uber's ( UBER ) history outside the post-COVID rebound."

Adjusted earnings before interest, taxes, depreciation and amortization surged 33% to $2.26 billion in the third quarter. For the ongoing period, the metric is pegged between $2.41 billion and $2.51 billion, Uber ( UBER ) said.

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