Uber Technologies ( (UBER) ) has released its Q4 earnings. Here is a breakdown of the information Uber Technologies presented to its investors.
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Uber Technologies, Inc., a global leader in ride-hailing, food delivery, and freight services, operates in the technology sector with a focus on revolutionizing urban mobility through its diverse platform offerings.
Uber Technologies reported its strongest financial performance to date for the fourth quarter and full year 2024, with gross bookings growth of 18% year-over-year and a 44% increase in adjusted EBITDA, reaching $1.8 billion. The company also achieved a free cash flow of $1.7 billion, demonstrating robust cash generation capabilities.
Key highlights include a 20% year-over-year revenue growth to $12.0 billion for Q4 2024, driven by record demand in Mobility and Delivery services. Mobility Gross Bookings rose to $22.8 billion, and Delivery Gross Bookings reached $20.1 billion, both reflecting an 18% increase year-over-year. Uber’s net income was significantly boosted to $6.9 billion due to a favorable $6.4 billion tax valuation release.
Uber’s management emphasizes strong momentum heading into 2025, with plans to capitalize on opportunities in autonomous vehicle technology and expand its Uber One membership base, which grew by 60% to 30 million members. The company also announced a strategic share repurchase plan, highlighting confidence in its valuation and future growth prospects.
Looking forward, Uber anticipates continued growth in Q1 2025, with projected gross bookings of $42.0 to $43.5 billion and adjusted EBITDA growth of 30% to 37% year-over-year, indicating a positive outlook as it executes its long-term strategy.
