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Sep 30, 2024
Uber Q3 2024 Earnings Report
Announced results for the third quarter of 2024, demonstrating profitable growth and strategic investments.
Key Takeaways
Uber reported a strong Q3 2024 with significant growth in Gross Bookings and Revenue. The company achieved its first $1 billion in GAAP operating income, driven by increases in both Mobility and Delivery segments. Uber is focused on returning capital to shareholders and investing in future growth opportunities.
Gross Bookings increased by 16% year-over-year to $41.0 billion, or 20% on a constant currency basis.
Revenue grew by 20% year-over-year to $11.2 billion, or 22% on a constant currency basis.
Income from operations was $1.1 billion, up $667 million year-over-year.
Net income attributable to Uber Technologies, Inc. was $2.6 billion, including a $1.7 billion benefit from net unrealized gains related to the revaluation of Uber’s equity investments.
Uber
Uber
Uber Revenue by Segment
Revenue by Segment
Freight Revenue
CapyFin.com Forward Guidance
For Q4 2024, Uber anticipates Gross Bookings between $42.75 billion and $44.25 billion, representing 16% to 20% year-over-year growth on a constant currency basis. Adjusted EBITDA is expected to be between $1.78 billion and $1.88 billion, a 39% to 47% year-over-year increase.
Positive Outlook
- Gross Bookings of $42.75 billion to $44.25 billion, which represents 16% to 20% YoY growth on a constant currency basis.
- Trips YoY growth to be similar compared to Q3 2024.
- Adjusted EBITDA of $1.78 billion to $1.88 billion, which represents 39% to 47% YoY growth.
Challenges Ahead
- Our outlook assumes a roughly 2 percentage point currency headwind to total reported YoY growth.
- Outlook includes a roughly 5 percentage point currency headwind to Mobility’s reported YoY growth.