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Jun 30, 2024
Uber Q2 2024 Earnings Report
Uber's growth engine continued to deliver trip growth and record profitability, with drivers and couriers earning a new all-time high.
Key Takeaways
Uber's Q2 2024 results showed strong growth in Gross Bookings and Revenue, driven by increases in both Mobility and Delivery segments. The company achieved record profitability with a significant increase in Adjusted EBITDA. Uber started share repurchases during the quarter.
Gross Bookings grew by 19% year-over-year to $40.0 billion.
Revenue increased by 16% year-over-year to $10.7 billion.
Income from operations was $796 million, up $470 million year-over-year.
Adjusted EBITDA reached $1.6 billion, a 71% increase year-over-year.
Revenue by Segment
Forward Guidance
For Q3 2024, Uber anticipates Gross Bookings of $40.25 billion to $41.75 billion, representing 18% to 23% YoY growth on a constant currency basis, and Adjusted EBITDA of $1.58 billion to $1.68 billion, representing 45% to 54% YoY growth.
Positive Outlook
- Gross Bookings are expected to grow 18% to 23% year-over-year on a constant currency basis.
- Adjusted EBITDA is projected to increase by 45% to 54% year-over-year.
- Continued focus on growth and profitability.
- Expansion of services and partnerships.
- Innovation in maps and advertising.
Challenges Ahead
- Currency headwinds are expected to negatively impact total reported YoY growth by roughly 4 percentage points.
- Mobility's reported YoY growth is expected to be negatively impacted by roughly 7 percentage points due to currency headwinds.
- Strengthening of the US dollar versus other currencies represents an over $400 million expected headwind to Q3 Gross Bookings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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