Uber Technologies Inc. reported fourth-quarter earnings that fell short of expectations, with an adjusted earnings per share of 23 cents, compared to the anticipated 50 cents. Despite revenue of $11.96 billion surpassing the $11.77 billion estimate, the company's operating profit of $770 million was below the market's forecast of $1.22 billion. The shortfall was attributed to a 20.5% increase in total costs and expenses to $11.19 billion. Uber's gross bookings for the quarter rose 18% year-over-year to $44.2 billion, driven by stable commuting demand and a strong holiday delivery season. However, the company's guidance for the first quarter of 2025 disappointed analysts, projecting gross bookings between $42 billion and $43.5 billion, below the expected $43.42 billion, citing a strong dollar and adverse weather conditions as factors. Uber's CEO, Dara Khosrowshahi, highlighted the company's focus on autonomous vehicles as a significant opportunity, with Waymo set to launch its autonomous taxi service on Uber's platform in Austin, Texas next month. Amidst these developments, Uber's shares experienced volatility, initially dropping but later recovering, with a notable increase following the announcement of a 33.3 million share stake by investor Bill Ackman.