Uber Technologies Inc. (NYSE:UBER) is one of the most profitable growth stocks to buy according to billionaires. On July 29, UBS analyst Stephen Ju raised the firm’s price target on Uber to $115 from $107 while keeping a Buy rating on the shares. Q1 2025 was a profitable quarter for the company, with trips increasing by 18% year-over-year to 3 billion, which was driven by a 14% growth in Monthly Active Platform Consumers/MAPCs to 170 million.
The company’s profitability saw an improvement. Income from operations was $1.2 billion, which was up by $1.1 billion from the previous year. Net income attributable to Uber was $1.8 billion, which included a $51 million net benefit from revaluations of equity investments. At the end of the quarter, the company held $6 billion in unrestricted cash, cash equivalents, and short-term investments.
A close up view of a hand holding a smartphone, using a ride sharing app.
Looking ahead to the second quarter of 2025, Uber provided a positive outlook. The company anticipates Gross Bookings to be between $45.75 and $47.25 billion in Q2, which would represent a constant currency growth of 16-20%.
Uber Technologies Inc. (NYSE:UBER) develops and operates proprietary technology applications that operate through 3 segments: Mobility, Delivery, and Freight.
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Disclosure: None. This article is originally published at Insider Monkey.