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Dec 31, 2020
Uber Q4 2020 Earnings Report
Uber's Q4 2020 results were announced, revealing revenue growth and adjusted EBITDA improvement.
Key Takeaways
Uber's Q4 2020 saw a 13% quarter-over-quarter revenue growth, reaching $3.2 billion. Gross Bookings grew by 16% QoQ to $17.2 billion. The net loss attributable to Uber Technologies, Inc. was $968 million. Adjusted EBITDA loss was $(454) million, improved by $171 million QoQ.
Gross Bookings grew 16% quarter-over-quarter to $17.2 billion.
Revenue grew 13% quarter-over-quarter to $3.2 billion.
Net loss attributable to Uber Technologies, Inc. was $968 million.
Adjusted EBITDA loss of $(454) million, improved by $171 million QoQ.
Revenue by Segment
Forward Guidance
Uber anticipates continued Adjusted EBITDA performance improvement and remains well on track to achieving their profitability goals in 2021.
Positive Outlook
- Continued global rollout on Android, where the Uber Eats delivery experience is integrated next to Uber rides, generating incremental user and revenue growth for Eats.
- U4B managed Gross Bookings grew roughly 45% QoQ, with a majority of Bookings now derived from non-business travel products such as Delivery offerings and Guest Products.
- Mobility Adjusted EBITDA improved $48 million QoQ to $293 million and significantly outpaced QoQ revenue growth, demonstrating improved operating leverage in the model.
- Delivery Gross Bookings grew 18% QoQ to $10.1 billion, up 128% YoY on a constant currency basis with EMEA up 144% YoY, U.S. & Canada up 142% YoY, LatAm up 130% YoY, and APAC up 79% YoY.
- Delivery Adjusted EBITDA loss decreased to $(145) million, improving $38 million QoQ and $316 million YoY.
Challenges Ahead
- Revenue recovery lagged Gross Bookings recovery with take rate declining 140bps QoQ to 21.7%, driven by the U.S. & Canada and EMEA lagging other international markets in the recovery, and an adverse impact from drivers litigation settlements (40bps).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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