Latest Uber Earnings Report Q4 2024

Company Overview

Uber Technologies, Inc. (NYSE: UBER) is a global technology company headquartered in San Francisco, California, specializing in ride-hailing, food delivery, and freight transportation services. Founded in 2009 by Garrett Camp and Travis Kalanick, Uber has expanded its operations to over 70 countries and 10,500 cities worldwide. The company's mission is to reimagine the way the world moves for the better, connecting consumers with independent service providers through its proprietary technology platform. In 2023, Uber reported its first annual operating profit of $1.1 billion, marking a significant milestone in its financial history. As of February 15, 2025, Uber's stock price is $79.42, with a market capitalization of approximately $166 billion. The company continues to innovate by expanding its service offerings, including partnerships for electric vehicle leasing and the development of autonomous vehicle technology, aiming to provide efficient and sustainable transportation solutions globally.

Latest Uber Earnings Comparison (Q4 2024)

Historical Uber Earnings Data

Uber Earnings Call Summary Q4 2024

Highlights

• Strong Revenue & Bookings Growth: Q4 gross bookings reached $39.8B (+21% YoY, constant currency), with full-year bookings up 21% YoY.

• Accelerating Profitability: Adjusted EBITDA grew 60% YoY to $1.4B, exceeding Uber’s high 30s to 40% CAGR target.

• Uber One Membership Expansion: Membership surged 60% YoY to 30M, driving higher frequency and retention.

• Mobility Growth Acceleration: Mobility gross bookings grew 24% YoY, with strong U.S. market momentum.

• Delivery Expansion & Efficiency: Delivery gross bookings accelerated sequentially, driven by 1M+ active merchants (+16% YoY) and improved pricing models.

• Autonomous Vehicle (AV) Strategy: Uber deepened AV partnerships with Waymo and global OEMs, with fleet and depot investments to support future AV scaling.

• Raised Q1 2025 Guidance: Uber expects 17%-21% constant currency gross bookings growth and continued profit expansion.

Risks

Despite strong financial performance, Uber faces several key challenges:

1. Regulatory & Compliance Risks: AV deployment and ride-hailing face evolving regulations across key markets.

2. Macroeconomic & FX Headwinds: Latin American currency devaluation is creating 5.5 percentage points of FX impact on Q1 revenue.

3. Insurance Cost Volatility: While insurance inflation has eased (11% YoY in December, down from 20%+ earlier in 2024), rising costs remain a long-term concern.

4. Autonomous Vehicle Uncertainty: AV commercialization remains slow, requiring significant capital investments in fleet, charging, and operational support.

5. Competitive Pricing Pressure: Increased investment in affordable rides (UberX Share, Shuttle, Taxis) could impact per-trip margins.

Opportunities

Uber is well-positioned for long-term expansion across multiple growth levers:

1. Uber One Subscription Growth: 30M+ members (+60% YoY) drive higher frequency and engagement, boosting profitability and retention.

2. Expansion into Less-Dense Markets: Suburban & rural markets growing 1.5x faster than urban areas, extending long-term Mobility runway.

3. Autonomous & Electric Vehicle Investments: Fleet partnerships, depot acquisitions, and OEM collaborations strengthen Uber’s long-term AV positioning.

4. AI-Powered Pricing & Marketplace Efficiency: AI-driven dynamic pricing and demand forecasting improve trip completion rates and profitability.

5. Global Delivery Expansion: Merchant-funded promotions, improved selection, and AI-driven fulfillment support continued Uber Eats & grocery expansion.

Outlook

• Sustained Revenue & Profitability Growth: 2025 guidance targets 17%-21% constant currency gross bookings growth with 33% YoY EBITDA growth at the midpoint.

• Mobility Growth Acceleration: Investment in supply density, Uber One, and suburban expansion will sustain long-term Mobility growth.

• Delivery Profitability Strengthening: Enhanced merchant-funded pricing models and AI-powered fulfillment will drive higher margins.

• AV & Electric Vehicle Adoption Pathway: Waymo partnerships in Austin & Atlanta expected to scale in 2025, with Uber poised as an essential AV platform.

The information is provided for educational purposes only and does not constitute financial advice or recommendation and should not be considered as such. Do your own research.