Uber Q3 2023 Earnings Report
Key Takeaways
Uber Technologies, Inc. announced strong financial results for the third quarter of 2023, with a 25% increase in trips and a 15% increase in monthly active platform consumers year-over-year. The company reported a net income of $221 million and an income from operations of $394 million. Adjusted EBITDA reached an all-time high, and free cash flow was $905 million.
Gross Bookings increased by 21% year-over-year to $35.3 billion.
Revenue grew by 11% year-over-year to $9.3 billion.
Income from operations was $394 million, a significant increase compared to the previous year.
Free cash flow reached $905 million, including a $622 million cash outflow related to a VAT assessment payment.
Uber
Uber
Uber Revenue by Segment
Forward Guidance
For Q4 2023, Uber anticipates Gross Bookings of $36.5 billion to $37.5 billion and Adjusted EBITDA of $1.18 billion to $1.24 billion.
Positive Outlook
- Gross Bookings are expected to be between $36.5 billion and $37.5 billion.
- Adjusted EBITDA is projected to be in the range of $1.18 billion to $1.24 billion.