Uber reports impressive financial results for the fourth quarter of 2023, fueled by growth across its mobility, delivery, and freight segments. The company exceeded revenue and gross bookings targets, while adjusted EBITDA also met analyst predictions. CEO Dara Khosrowshahi emphasizes the company's commitment to innovation and its long-term strategy.
Uber reported strong fourth-quarter financial results , driven by growth in its mobility and delivery segments. The company's revenue soared 20% to $11.96 billion, exceeding analyst expectations. Uber attributed its net income of $6.9 billion, or $3.21 per share, to a $6.4 billion benefit from a tax valuation release and a $556 million pre-tax gain from revaluations of equity investments. Gross bookings reached $44.2 billion, surpassing the $43.49 billion anticipated by analysts.
Adjusted EBITDA for the quarter came in at $1.84 billion, a 44% increase year-over-year and in line with analyst predictions. Uber CEO Dara Khosrowshahi highlighted the company's progress in autonomous vehicles and its commitment to innovation and execution.The company saw a 18% year-over-year increase in trips completed, reaching 3.1 billion in the fourth quarter. Monthly active platform consumers grew 14% to 171 million. Uber's mobility segment generated $6.91 billion in revenue, up 25% from the previous year, while its delivery segment reported $3.77 billion in revenue, a 21% increase. The freight business maintained revenue at $1.28 billion, consistent with the previous year. For the first quarter of 2024, Uber anticipates gross bookings between $42 billion and $43.5 billion, with adjusted EBITDA projected between $1.79 billion and $1.89 billion
Uber Financial Results Revenue Growth Gross Bookings Adjusted EBITDA
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