How Uber makes money
From Uber's 2025 annual report · Every number cited · Updated
The short answer
Uber makes money by taking a cut of every ride and delivery booked through its app. In 2025 people spent $193.5B
Most of the rest belongs to the drivers, couriers and restaurants who did the work. Uber owns the app, not the cars or the kitchens.
Key numbers
- $193.5B
sec.gov ·2025 Spent through Uber in a year (Gross Bookings)
- 26.9%
sec.gov ·2025 Of it counted as Uber's revenue
- 30.4%
sec.gov ·2025 Uber's cut of rides
- 19.0%
sec.gov ·2025 Uber's cut of food and grocery deliveries
Rather try it? The free lesson uses the same numbers, hands-on.
Follow the money through the app
Uber calls everything people spend through the app Gross Bookings. It shows how big the marketplace is. Revenue is the part that's Uber's.
Uber counts it that way because, its report says, in most places it's an agent: it connects you with a driver or a restaurant, who provide the ride or the meal. So it counts only its fees as revenue, not the whole fare.
Out of Uber's share come insurance, card fees and data centers, then the city teams, engineers and marketing that run the company. What's left is Uber's operating profit: about $2.88
- Drivers', couriers' and restaurants' share, plus taxes and tolls: $73.11
- Uber's direct costs: $16.20
- Running Uber: $7.81
- Left as Uber's operating profit: $2.88
Where an example $100
Sources:sec.gov ·2025
Rides keep more than food
Uber kept about 30.4%
Rivals look the same: a ride app keeps more of each dollar than a delivery app. Each counts its total a little differently; DoorDash's includes tips, Uber's and Lyft's don't.
- Rides · Uber: 30.4%
- Rides · Lyft: 34.1%
- Food and grocery delivery · Uber: 19.0%
- Food and grocery delivery · DoorDash: 13.4%
Each app's revenue as a share of what customers spent, 2025, from each company's Form 10‑K. Read it as close, not exact.
Sources:sec.gov ·2025
A profit that looks bigger than it is
Uber made $5.6B
Uber lost money for years while it grew. The losses that its profits haven't yet made up still came to $10.6B
To keep people coming back, Uber sells one membership across rides, delivery and grocery: Uber One, with 46 million
Common questions
- How much of an Uber fare goes to the driver?
Uber's report doesn't split a single fare. Across all of 2025, Uber kept about 30.4%
sec.gov ·2025 of what riders spent as revenue; the rest went to drivers, plus taxes and tolls. - Does Uber pay its drivers a wage?
No. Drivers and couriers are independent contractors: they choose their hours and pay for their own cars. Courts and lawmakers in many countries are challenging that, and Uber's report says having to treat them as employees would add big costs.
- Is Uber profitable?
Yes, in 2025: $5.6B
sec.gov ·2025 of operating profit. Its $10.1B of net income looks bigger because of a mostly one-time tax benefit, and years of earlier losses still add up to $10.6B sec.gov ·2025. - How many people use Uber?
Uber had 202 million
people using it each month by the end of 2025, and handled 13.6 billion rides and deliveries that year, with about 34,000 people sec.gov ·2025 employees of its own.
Try it yourself
Free lesson · 9 min
How Uber makes money
The hands-on version of this page: guess the numbers, read Uber's real report, and make the boss's calls yourself.
The ideas behind it