Summary by Moomoo AI
Uber Technologies delivered robust Q2 2024 results with Gross Bookings rising 19% YoY to $40.0 billion, driven by Mobility growth of 23% and Delivery growth of 16%. Revenue increased 16% YoY to $10.7 billion, while income from operations surged 144% to $796 million. The company achieved record Adjusted EBITDA of $1.6 billion, up 71% YoY, with margin expanding to 3.9% of Gross Bookings.Monthly Active Platform Consumers grew 14% YoY to 156 million, with trips increasing 21% to 2.8 billion. Drivers and couriers earned a record $17.9 billion during the quarter, up 19% YoY. Operating cash flow strengthened to $1.8 billion, with free cash flow of $1.7 billion.For Q3 2024, Uber projects Gross Bookings of $40.25-41.75 billion, representing 18-23% YoY growth on a constant currency basis, and Adjusted EBITDA of $1.58-1.68 billion, up 45-54% YoY. The company initiated share repurchases of $325 million under its February 2024 authorization.
