Billion

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<p class="has-drop-cap">Uber Technologies Inc. (NYSE: UBER) has marked a significant milestone, announcing a prosperous close to the <a aria-label="fourth quarter and the entirety of 2023 (opens in a new tab)" href="https://investor.uber.com/news-events/news/press-release-details/2024/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2023/default.aspx" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter and the entirety of 2023</a>. This period of financial achievement underscores the firm’s capability to sustain growth and profitability at scale. <br><br>Dara Khosrowshahi, CEO of Uber, emphasized the company’s inflection point in 2023, highlighting the platform’s extensive daily engagement and successful maneuver into profitable terrain. Uber’s fourth-quarter results reflect a robust enhancement in key performance indicators, including a 24% year-over-year increase in trips and a 15% rise in monthly active platform consumers. <br><br>Furthermore, the company recorded a net income of $1.4 billion, alongside a record Adjusted EBITDA margin, showcasing its operational efficiency and profitability.</p>
<h3 id="current-quarter-s-performance">Current Quarter’s Performance</h3>
<p>Uber’s financial highlights for the fourth quarter of 2023 illuminate the company’s continued growth trajectory. Gross bookings surged by 22% year-over-year, reaching $37.6 billion, propelled by significant gains in both Mobility and Delivery segments. <br><br>This growth indicates the company’s expanding market presence and ability to capture increased consumer demand. Revenue growth of 15% year-over-year to $9.9 billion further solidifies Uber’s financial health, supported by a 34% increase in Mobility Revenue. The company also reported impressive cash flow metrics, with an operating cash flow of $823 million and free cash flow of $768 million, underscoring its operational excellence and cash-generating capabilities.</p>
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<h3 id="uber-smashes-expectations-in-q4">Uber Smashes Expectations in Q4</h3>
<p>The fourth quarter’s financial outcomes have not only met but exceeded expectations. Analysts had projected earnings per share (<a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of $0.158 and revenue of $9.76 billion for the quarter. With higher revenue of $9.9 billion and significant net income, Uber’s actual performance demonstrates the company’s ability to surpass market forecasts and deliver on its financial commitments. <br><br>This outperformance is particularly noteworthy as it marks a significant turnaround from previous years, highlighting Uber’s strategic initiatives to drive profitability and enhance shareholder value.</p>
<h3 id="guidance">Guidance</h3>
<p>Looking ahead to Q1 2024, Uber anticipates gross bookings to range between $37.0 billion and $38.5 billion, with Adjusted EBITDA expected to be between $1.26 billion and $1.34 billion. This guidance reflects the company’s confidence in its operational strategy and its ability to maintain momentum in growth and profitability. The forward-looking statements underscore Uber’s focus on strategic investments and capital allocation to fuel future growth, reinforcing the optimism surrounding the company’s trajectory.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/ubers-uber-9-9-billion-revenue-in-q4-signals-profit-milestone/">Uber’s (UBER) $9.9 Billion Revenue in Q4 Signals Profit Milestone</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Uber’s (UBER) $9.9 Billion Revenue in Q4 Signals Profit Milestone

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