Uber Technologies Inc. (NYSE:UBER) delivered an exceptional Q4 2024 performance, posting $11.96 billion in revenue, a 20.3% year-over-year (YoY) increase, exceeding expectations by $190 million. The company’s GAAP EPS of $3.21 may not be directly comparable to consensus estimates of $0.48, yet it underscores Uber’s robust financial health and strategic growth.
Key Financial Highlights: A Strong Quarter for Uber
Uber reported Gross Bookings of $44.2 billion, up 18% YoY (or 21% in constant currency), reflecting sustained growth across its Mobility and Delivery segments:
- Mobility Gross Bookings: $22.8 billion, marking an 18% YoY increase (or 24% YoY in constant currency).
- Delivery Gross Bookings: $20.1 billion, growing 18% YoY, both on a reported and constant currency basis.
Trips surged 18% YoY to 3.1 billion, averaging approximately 33 million daily rides, reinforcing Uber’s expanding user base and engagement levels.
Profitability Soars with Strong EBITDA Growth
Uber reported $770 million in income from operations, with Adjusted EBITDA reaching $1.8 billion, reflecting an impressive 44% YoY increase. This performance underscores Uber’s ability to scale profitably while maintaining strong operational efficiency.
- Operating cash flow: $1.8 billion
- Free cash flow: $1.7 billion, demonstrating strong liquidity and capital efficiency.
- Cash and equivalents: Uber ended the quarter with $7.0 billion in unrestricted cash, cash equivalents, and short-term investments.
- Debt reduction: The company redeemed $2.0 billion of its outstanding debt, further strengthening its balance sheet.
Q1 2025 Outlook: Sustained Momentum in Bookings and EBITDA Growth
For Q1 2025, Uber projects:
- Gross Bookings growth of 17% to 21% YoY on a constant currency basis.
- Expected Gross Bookings of $42.0 billion to $43.5 billion, considering a 5.5 percentage point currency headwind.
- Mobility and Delivery expected to face 7 and 4 percentage point currency headwinds, respectively.
- Adjusted EBITDA forecasted between $1.79 billion and $1.89 billion, representing 30% to 37% YoY growth.
Uber’s Market Expansion and Resilience Drive Growth
Uber’s continued revenue acceleration and operational efficiencies reflect the strength of its Mobility and Delivery businesses, supported by increasing consumer adoption and market penetration. The company’s focus on free cash flow generation and debt reduction positions it well for long-term sustainability and expansion.
With an optimistic 2025 outlook, Uber remains a dominant force in the rideshare and delivery markets, capitalizing on user growth, innovation, and financial discipline to maintain its upward trajectory.
