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Mar 31, 2023
Uber Q1 2023 Earnings Report
Uber's Q1 2023 performance was marked by substantial growth in Gross Bookings and Revenue, driven by strong performance in both Mobility and Delivery segments.
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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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