Today, Uber Technologies, announced its financial results for the quarter and full year 2024.
The company’s financial highlights included:
· Gross Bookings grew 18% year-over-year to $44.2 billion.
· Revenue grew 20% YoY to $12.0 billion
· Income from operations was $770 million, up $118 million YoY
· Adjusted EBITDA grew 44% YoY to $1.8 billion
Uber CEO, Dara Khosrowshahi told investors, “Uber ended 2024 with our strongest quarter ever, as growth accelerated across MAPCs, trips, and Gross Bookings. Our performance has been powered by rapid innovation and execution across multiple priorities, including the massive opportunity presented by autonomous vehicles.”
Prashanth Mahendra-Rajah, Uber’s CFO stated, “Record demand in both Mobility and Delivery helped us grow Gross Bookings faster than the high end of our guidance, and we closed out 2024 exceeding our three-year outlook for Gross Bookings, Adjusted EBITDA, and free cash flow. We believe we remain undervalued despite these strong fundamentals, and plan to be active and opportunistic buyers of our stock.”
Uber’s outlook for Q1 2025 looks strong as the company predicts a gross bookings growth of 17% to 21% and adjusted EBITDA of $1.79 billion to $1.89 billion, representing 30% to 37% YoY growth.
Khosrowshahi concluded, “We enter 2025 with clear momentum and will continue to be relentless against our long-term strategy.”
Despite the strong results, Uber’s shares have dropped slightly following the announcement.
By CEO NA Editorial Staff
