Uber Q1 2023 Earnings Report
Key Takeaways
Uber Technologies, Inc. announced financial results for the quarter ended March 31, 2023, revealing a 19% year-over-year increase in Gross Bookings to $31.4 billion and a 29% year-over-year increase in Revenue to $8.8 billion. The company's Net loss attributable to Uber Technologies, Inc. was $157 million, while Adjusted EBITDA reached $761 million, up $593 million year-over-year. Additionally, Uber reported a record free cash flow of $549 million.
Gross Bookings grew by 19% year-over-year to $31.4 billion, with Mobility and Delivery both at $15.0 billion.
Revenue increased by 29% year-over-year to $8.8 billion.
Net loss attributable to Uber Technologies, Inc. was $157 million, including a $320 million net benefit from revaluation of equity investments.
Adjusted EBITDA significantly increased to $761 million, up $593 million year-over-year.
Uber
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Uber Revenue by Segment
Uber Revenue by Geographic Location
Forward Guidance
For Q2 2023, Uber anticipates Gross Bookings of $33.0 billion to $34.0 billion and Adjusted EBITDA of $800 million to $850 million.
Positive Outlook
- Gross Bookings are expected to be between $33.0 billion and $34.0 billion.
- Adjusted EBITDA is projected to be in the range of $800 million to $850 million.
- Focus on product innovation to enhance user experience.
- Aim to leverage scale for efficient operations.
- Platform advantages will probably drive growth.