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Jun 30, 2023
Uber Q2 2023 Earnings Report
Uber's Q2 2023 results showed strong growth in Gross Bookings and Revenue, with significant improvements in profitability and cash flow.
Key Takeaways
Uber reported a strong second quarter in 2023, with a 16% increase in Gross Bookings and a 14% increase in Revenue. The company achieved income from operations of $326 million and a net income of $394 million. Uber also reported record quarterly free cash flow of $1.1 billion.
Gross Bookings grew by 16% year-over-year to $33.6 billion.
Revenue increased by 14% year-over-year to $9.2 billion.
The company achieved income from operations of $326 million, a $1.0 billion increase year-over-year.
Free cash flow reached a record $1.1 billion for the quarter.
Revenue by Segment
Forward Guidance
For Q3 2023, Uber anticipates Gross Bookings of $34.0 billion to $35.0 billion and Adjusted EBITDA of $975 million to $1.025 billion.
Positive Outlook
- Gross Bookings are expected to be between $34.0 billion and $35.0 billion.
- Adjusted EBITDA is projected to be between $975 million and $1.025 billion.
- Continued growth in key markets.
- Strong performance in both Mobility and Delivery segments.
- Ongoing cost discipline.
Challenges Ahead
- Uncertainty in the global economic environment.
- Potential impact of regulatory changes.
- Competition in the ride-sharing and delivery markets.
- Fluctuations in foreign currency exchange rates.
- Potential for increased operating expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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