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- Uber Technologies, Inc (NYSE:UBER) reported third-quarter FY22 revenue growth of 72% year-on-year to $8.34 billion, beating the consensus of $8.12 billion.
- Uber: Revenue from Mobility grew to $3.82 billion (+73% Y/Y), Delivery was $2.77 billion (+24% Y/Y), and Freight at $1.75 billion (336% Y/Y).
- Gross Bookings grew 26% Y/Y to $29.1 billion, with Mobility Gross Bookings of $13.7 billion (+38% Y/Y) and Delivery Gross Bookings of $13.7 billion (+7% Y/Y).
- Trips grew 19% Y/Y to 1.95 billion, or 21 million per day.
- Margins: Uber clocked an Adjusted EBITDA of $516 million, driven by Mobility.
- Uber's Adjusted EBITDA margin as a percentage of Gross Bookings was 1.8%, up from 0% in Q3 2021.
- Uber's EPS loss of $(0.35) missed the consensus loss of $(0.22).
- Uber held $4.9 billion in cash and equivalents and generated $358 million in free cash flow.
- Dara Khosrowshahi, the CEO, said, "Even as the macroeconomic environment remains uncertain, Uber's core business is stronger than ever."
- Uber CEO on Consumer spending: Company sees "absolutely no signs of slowing down"
- Outlook: Uber expects Q4 Gross Bookings of $30 billion - $31 billion and Adjusted EBITDA of $600 million - $630 million.
- Price Action: UBER shares traded higher by 15.20% at $30.63 on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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