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Dec 31, 2022
Uber Q4 2022 Earnings Report
Uber's Q4 2022 results were announced, showcasing significant growth in Gross Bookings and Revenue. The company achieved profitability with positive Net Income and Adjusted EBITDA.
Key Takeaways
Uber Technologies, Inc. reported a strong Q4 2022, with Gross Bookings up 19% year-over-year to $30.7 billion and Revenue up 49% year-over-year to $8.6 billion. Net income attributable to Uber Technologies, Inc. was $595 million, and Adjusted EBITDA reached $665 million.
Gross Bookings increased by 19% year-over-year to $30.7 billion.
Revenue grew by 49% year-over-year to $8.6 billion.
Net income attributable to Uber Technologies, Inc. was $595 million.
Adjusted EBITDA was $665 million, a significant increase from the previous year.
Uber
Uber
Forward Guidance
For Q1 2023, Uber anticipates Gross Bookings to grow 20% to 24% year-over-year on a constant currency basis, translating to a range of $31.0 billion to $32.0 billion, and Adjusted EBITDA of $660 million to $700 million.
Positive Outlook
- Gross Bookings are expected to grow 20% to 24% YoY on a constant currency basis.
- Gross Bookings are expected to be in the range of $31.0 billion to $32.0 billion.
- Adjusted EBITDA is projected to be between $660 million and $700 million.
- The company's global scale and platform advantages position it well for 2023.
- Profitability outlook was significantly exceeded in 2022.
Challenges Ahead
- There is an expected 3 percentage point currency headwind.
- Net cash used in operating activities was $244 million.
- Free cash flow was $(303) million.
- Q1 2023 guidance is subject to change based on various factors.
- Unspecified risks and uncertainties related to future business expectations.