Uber reported Q4 earnings on Wednesday that beat analysts\u2019 estimates. In a prepared statement, CEO Dara Khosrowshahi said Uber ended 2022 with its \u201cstrongest quarter ever,\u201d capping off its \u201cstrongest year.\u201d
For the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over year on a constant currency basis. The company\u2019s ted fourth-quarter earnings Wednesday that beat analysts\u2019 estimates. Shares were up about 2.5%.
The pandemic\u2019s impact on the company\u2019s mobility business is \u201cnow well and truly behind us,\u201d according to CEO. Active drivers hit an all-time high during the quarter. Khosrowshahi also noted that the company also achieved a new milestone and hit 2 billion trips in a single quarter for the first time, averaging around 1 million trips per hour.
The company reported adjusted EBITDA of $665 million, more than the $620 million expected by analysts. Gross bookings for the quarter came in at $30.7 billion, up 19% year over year.
For the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over year on a constant currency basis, and an adjusted EBITDA of $660 million to $700 million.
Earnings per share: 29 cents vs. 18 cent loss expected by analysts, according to Refinitiv.
Revenue: $8.6 billion vs. $8.49 billion expected by analysts, according to Refinitiv.
Revenue for the quarter was up 49% year over year. Uber noted that net income for the quarter was $595 million, of which $756 million was a net benefit due to unrealized gains on equity investments.<\/p>\n","protected":false},"excerpt":{"rendered":"
Uber reported Q4 earnings on Wednesday that beat analysts\u2019 estimates. In a prepared statement, CEO Dara Khosrowshahi said Uber ended 2022 with its \u201cstrongest quarter ever,\u201d capping off its \u201cstrongest year.\u201dFor the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over year on a constant currency …<\/p>\n","protected":false},"author":13,"featured_media":69452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7113,6929],"class_list":["post-79692","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-earnings","tag-uber"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=79692"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79692\/revisions"}],"predecessor-version":[{"id":79701,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79692\/revisions\/79701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/69452"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=79692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}