Uber has announced its fourth-quarter results, beating analysts’ expectations for revenue. The company’s revenue grew 20% to $11.96 billion, exceeding predictions of $11.77 billion. Adjusted earnings before interest, taxes, and depreciation (EBITDA) reached $1.84 billion, a 44% increase from the same period last year.
However, Uber’s adjusted earnings per share missed expectations, falling short of 50 cents. The company reported net income of $6.9 billion, up from $1.4 billion in the same period last year.
Uber’s autonomous vehicle plans took center stage during the quarterly call with investors, where CEO Dara Khosrowshahi discussed the massive opportunity presented by autonomous vehicles. He stated that while autonomous vehicle technology is progressing, it will take many years to commercialize due to complex regulatory hurdles.
Despite the challenges ahead, Uber remains confident in its ability to be a top partner for autonomous vehicle players. The company plans to invest heavily in this area and has set its sights on expanding its services to Austin, Texas, through its partnership with Alphabet’s Waymo.
Key highlights from the fourth-quarter report include:
– 3.1 billion trips completed on the platform, up 18% year over year
– 171 million monthly active users, up 14% year over year
– $44.2 billion in gross bookings, above expectations of $43.49 billion
– Mobility segment revenue grew 25%, with delivery revenue increasing by 21%
– Freight business reported revenue in line with the previous quarter
Source: https://www.cnbc.com/2025/02/05/uber-uber-q4-earnings-2024.html