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Uber Misses Q1 Revenue Target Amid Slower U.S. Travel, Leans on Global Growth and Robotaxis

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Uber Technologies (UBER.N) reported Q1 revenue of $11.53 billion, slightly below analyst expectations of $11.62 billion, with its core ride-hailing business posting its slowest growth since the pandemic, due largely to weakened U.S. travel demand. Despite the miss, Uber struck an optimistic tone with above-estimate forecasts for Q2, pointing to international expansion and autonomous vehicle partnerships as key growth drivers.

“The categories we operate in … tend to be quite consistent, even during macro uncertainty,” CEO Dara Khosrowshahi told analysts.

Key Financial Highlights:

  • Total revenue: $11.53B (vs. $11.62B expected)

  • Ride-hailing revenue growth: +15% (slower than past quarters)

  • Delivery revenue growth: +18% (in line with forecasts)

  • Q2 gross bookings guidance: $45.75B–$47.25B (vs. $45.83B expected)

  • Q2 adjusted EBITDA: $2.02B–$2.12B (vs. $2.04B expected)

CFO Prashanth Mahendra-Rajah cited a “slightly higher mix of international trips” and “lower inbound U.S. travel” as key factors behind the slowdown. Broader foreign spending on U.S. travel dropped sharply in March, reinforcing a trend echoed by Airbnb.

Strategic Moves to Offset U.S. Softness:

  • 85% stake acquisition of Trendyol Go (Turkey) for $700M

  • Partnership with China’s Pony AI for robotaxi deployment

  • Robotaxi service with Waymo in Austin showing high usage and scaling plans

Despite the revenue miss, Uber’s stock, which is up 42% year-to-date, fell only ~1% by market close after dipping 6% in early trading.

“We see the miss as immaterial, and as such, believe the stock will recover,” said Jamie Meyers, senior analyst at Laffer Tengler Investments.

Uber’s positioning in delivery, mobility, and autonomous vehicles continues to insulate it from domestic travel headwinds, with international markets and automation partnerships paving the way for sustained long-term growth.

Amazon’s Zoox to Expand Robotaxi Production Ahead of U.S. Rollout, FT Reports

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Zoox, the self-driving vehicle subsidiary of Amazon, plans to scale up production in 2025 as it prepares for a broader commercial rollout of its robotaxi fleet across the U.S., according to a report by the Financial Times on Wednesday.

Co-founder Jesse Levinson said the company will open a new facility in California’s Bay Area, significantly expanding beyond its current production site in Fremont. The new location is expected to support Zoox’s goal of producing hundreds—eventually thousands—of custom-built robotaxis.

To date, Zoox has deployed about two dozen purpose-built autonomous vehicles across six U.S. cities. It plans to begin public ride services in Las Vegas this year, with San Francisco to follow.

The expansion comes amid a shift in federal regulatory attitudes toward self-driving technology, as the Trump administration recently signaled plans to ease some vehicle safety regulations and reduce mandatory incident reporting, in an effort to accelerate autonomous vehicle deployment.

Zoox joins a crowded field of competitors in the U.S. robotaxi market, including Tesla, Waymo (owned by Google’s parent Alphabet), and GM’s Cruise. All have faced regulatory scrutiny, with U.S. authorities investigating safety issues related to autonomous driving systems—including vehicles operated by Zoox.

Amazon’s Zoox Issues Software Recall After Self-Driving Robotaxi Crash in Las Vegas

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Zoox, the self-driving vehicle subsidiary of Amazon, has agreed to recall 270 autonomous vehicles following an April 8 crash in Las Vegas involving one of its unoccupied robotaxis and a passenger car. No injuries were reported, but the incident prompted a temporary suspension of operations and a subsequent software update to correct the issue.

According to Zoox, the crash occurred when the robotaxi misjudged a perpendicular vehicle’s behavior, incorrectly anticipating that the oncoming car would continue moving. Instead, the car stopped and yielded, but the Zoox vehicle had already slowed and shifted right, leading to a collision despite hard braking.

The company identified that the issue arises when its vehicles travel at over 40 mph (64 km/h) and encounter vehicles that slowly encroach from perpendicular driveways. The system’s failure to accurately predict the yielding vehicle’s stop was the root cause of the incident.

Zoox has since rolled out a software fix to prevent similar errors and stated that the vehicle behavior has been addressed. This marks the second recall in recent months: in April, the National Highway Traffic Safety Administration (NHTSA) closed a probe into 258 Zoox vehicles following two rear-end collisions caused by unexpected braking, after Zoox issued a software update.

However, Zoox remains under NHTSA scrutiny. The agency is still investigating the company’s 2022 self-certification of a robotaxi without traditional controls, such as a steering wheel or pedals.

The incident underscores ongoing regulatory and technical hurdles faced by autonomous vehicle developers as they approach broader deployment.