Summary
Uber Technologies, Inc. reported strong financial performance for the quarter ended June 29, 2024, with significant year-over-year growth in revenue and net income. Revenue increased by 16% to $10.7 billion, driven by robust performance in the Mobility segment, which saw a 25% revenue increase. The Delivery segment also showed growth, with revenue up 8%. Profitability improved considerably, with income from operations more than doubling to $796 million and net income attributable to Uber Technologies, Inc. soaring 158% to $1.015 billion. Adjusted EBITDA also demonstrated substantial growth, up 71% to $1.57 billion, highlighting the company's increasing operational efficiency and profitability across its core segments.
Financial Highlights
53 data pointsBeta
Financial Statements
Beta
| Revenue | $10.70B |
| R&D Expenses | $760.00M |
| Operating Expenses | $9.90B |
| Operating Income | $796.00M |
| Interest Expense | $128.00M |
| Net Income | $1.01B |
| EPS (Basic) | $0.49 |
| EPS (Diluted) | $0.47 |
| Shares Outstanding (Basic) | 2.09B |
| Shares Outstanding (Diluted) | 2.15B |
Key Highlights
- 1Revenue reached $10.7 billion, a 16% increase year-over-year, driven by strong Gross Bookings growth of 19%.
- 2Mobility segment revenue grew 25% year-over-year, reflecting strong trip volumes and segment performance.
- 3Delivery segment revenue increased by 8% year-over-year, contributing to overall platform growth.
- 4Net income attributable to Uber Technologies, Inc. surged by 158% to $1.015 billion, demonstrating significant profitability improvement.
- 5Income from operations more than doubled to $796 million, indicating enhanced operational leverage.
- 6Adjusted EBITDA increased by 71% to $1.57 billion, showcasing improved underlying profitability.
- 7The company ended the quarter with $6.3 billion in unrestricted cash, cash equivalents, and short-term investments, reflecting a healthy liquidity position.