Uber Technologies Inc. · Q3 2022 earnings

Briefing

Uber's financial performance for Q3 2022 showed significant growth in revenue and gross bookings, driven by strong demand across its Mobility, Delivery, and Freight segments. The company also achieved a record Adjusted EBITDA, indicating improved profitability and operational efficiency.

Uber Technologies, Inc. announced its financial results for the third quarter of 2022, reporting a 26% year-over-year increase in Gross Bookings to $29.1 billion and a 72% increase in revenue to $8.3 billion. The company's Adjusted EBITDA reached a record $516 million, and it generated $358 million in free cash flow. Despite these positive results, Uber reported a net loss of $1.2 billion, which includes net headwinds from revaluations of equity investments and stock-based compensation expenses.

• Gross Bookings grew by 26% year-over-year to $29.1 billion, or 32% on a constant currency basis.
• Revenue increased by 72% year-over-year to $8.3 billion, or 81% on a constant currency basis.
• Adjusted EBITDA reached a record $516 million, a $508 million increase year-over-year.
• The company reported a net loss of $1.2 billion, impacted by equity investment revaluations and stock-based compensation.

Headline financials

Revenue & EPS history

For Q4 2022, Uber anticipates Gross Bookings to grow 23% to 27% year-over-year on a constant currency basis, translating to a range of $30.0 billion to $31.0 billion. Adjusted EBITDA is expected to be between $600 million and $630 million.