Uber Technologies, Inc. (Uber) reported its financial results for the third quarter ended September 30, 2024, on October 31, 2024. The company announced significant growth with Gross Bookings increasing by 16% year-over-year to $41.0 billion, or 20% on a constant currency basis. The growth was driven by a 17% increase in Mobility Gross Bookings and a 16% increase in Delivery Gross Bookings. Uber's net income reached $2.6 billion, which includes a substantial $1.7 billion benefit from net unrealized gains related to the revaluation of Uber’s equity investments. Adjusted EBITDA was up by 55% year-over-year to $1.7 billion, with an Adjusted EBITDA margin of 4.1%. Operating cash flow for the quarter was reported at $2.2 billion, with free cash flow of $2.1 billion. The company also highlighted the achievement of over...Show More

Uber Technologies, Inc. (Uber) reported its financial results for the third quarter ended September 30, 2024, on October 31, 2024. The company announced significant growth with Gross Bookings increasing by 16% year-over-year to $41.0 billion, or 20% on a constant currency basis. The growth was driven by a 17% increase in Mobility Gross Bookings and a 16% increase in Delivery Gross Bookings. Uber's net income reached $2.6 billion, which includes a substantial $1.7 billion benefit from net unrealized gains related to the revaluation of Uber’s equity investments. Adjusted EBITDA was up by 55% year-over-year to $1.7 billion, with an Adjusted EBITDA margin of 4.1%. Operating cash flow for the quarter was reported at $2.2 billion, with free cash flow of $2.1 billion. The company also highlighted the achievement of over $1 billion in GAAP operating income for the first time in its history. Uber's CEO, Dara Khosrowshahi, emphasized the strength of the platform, which now boasts over 25 million Uber One members, and the company's strategic investments in new customer segments, safety features, and autonomous technology. CFO Prashanth Mahendra-Rajah expressed commitment to returning capital to shareholders through repurchases while investing in growth vectors. For the fourth quarter of 2024, Uber anticipates Gross Bookings of $42.75 billion to $44.25 billion and Adjusted EBITDA of $1.78 billion to $1.88 billion.