Uber Q3 2022 Earnings Report
Key Takeaways
Uber Technologies, Inc. announced its financial results for the third quarter of 2022, reporting a 26% year-over-year increase in Gross Bookings to $29.1 billion and a 72% increase in revenue to $8.3 billion. The company's Adjusted EBITDA reached a record $516 million, and it generated $358 million in free cash flow. Despite these positive results, Uber reported a net loss of $1.2 billion, which includes net headwinds from revaluations of equity investments and stock-based compensation expenses.
Gross Bookings grew by 26% year-over-year to $29.1 billion, or 32% on a constant currency basis.
Revenue increased by 72% year-over-year to $8.3 billion, or 81% on a constant currency basis.
Adjusted EBITDA reached a record $516 million, a $508 million increase year-over-year.
The company reported a net loss of $1.2 billion, impacted by equity investment revaluations and stock-based compensation.
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Uber Revenue by Segment
Uber Revenue by Geographic Location
Forward Guidance
For Q4 2022, Uber anticipates Gross Bookings to grow 23% to 27% year-over-year on a constant currency basis, translating to a range of $30.0 billion to $31.0 billion. Adjusted EBITDA is expected to be between $600 million and $630 million.