Uber CEO Dara Khosrowshahi Says 'Average Waymo In Austin Is Busier Than 99%' Of Human Drivers

Uber Technologies Inc. UBER revealed during its first quarter of 2025 earnings call that autonomous vehicles from Alphabet Inc.‘s GOOGL GOOG Waymo unit are outperforming human drivers in terms of utilization rates in their Austin, Texas deployment.

What Happened: “The average Waymo in Austin is busier than 99% of Austin drivers as defined by the number of trips per day,” CEO Dara Khosrowshahi told investors during Wednesday’s call, indicating the company’s strategic bet on autonomous technology is yielding early operational advantages.

The rideshare giant reported first-quarter earnings per share of $0.83, while revenue was $11.53 billion.

Uber’s deployment in Austin currently involves approximately 100 Waymo vehicles, with plans to expand. The autonomous fleet is showing “very high utilization,” with consumers giving the service positive ratings. This performance comes as Uber has announced five autonomous driving partnerships in recent months spanning the U.S., Europe, and the Middle East.

“We are going to continue to increase the vehicle count in Austin, and we’re super excited for expansion in Atlanta as well,” Khosrowshahi added.

Why It Matters: The company achieved a record adjusted EBITDA of $1.9 billion, up 35% year-over-year, while delivering strong trip growth of 19% for the third consecutive quarter. Monthly active users increased 14% to 170 million.

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CFO Prashant Raja highlighted that insurance costs, a persistent headwind for the mobility sector, are moderating with March CPI for insurance showing 7% year-over-year growth, “the lowest we’ve seen in almost three years.”

Uber expects consistent top-line growth with improving margins for the remainder of 2025, focusing on what Khosrowshahi described as their “multiyear growth framework” across mobility, delivery, and newer market expansions.

Price Action: Uber stock closed at $83.65 on Tuesday, down 2.54% for the day. In after-hours trading, the stock edged up 0.14% to $83.77. Year to date, Uber shares have gained 32.42%.

Uber is showing stronger momentum compared to rival Lyft Inc. LYFT, but trails on certain growth metrics, according to Benzinga Edge Stock Rankings. The stock maintains a positive price trend in the short and long term. Sign up to learn more.

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