Why Uber (UBER) Shares Are Trading Higher Today - Uber Technologies (NYSE:UBER)

Uber Technologies, Inc (NYSE:UBER) reported fourth-quarter FY22 revenue growth of 49% year-on-year to $8.61 billion, beating the consensus of $8.48 billion.

Outlook: Uber expects Q1 Gross Bookings of $31 billion - $32 billion and Adjusted EBITDA of $660 million - $700 million.

Price Action: UBER shares traded higher by 7.28% at $37.44 premarket on the last check Wednesday.

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Uber Technologies, Inc (NYSE:UBER) reported fourth-quarter FY22 revenue growth of 49% year-on-year to $8.61 billion, beating the consensus of $8.48 billion.

Uber: Revenue from Mobility grew to $4.14 billion (+82% Y/Y), Delivery was $2.93 billion (+21% Y/Y), and Freight at $1.54 billion (43% Y/Y).
Gross Bookings grew 19% Y/Y to $30.75 billion, with Mobility Gross Bookings of $14.89 billion (+31% Y/Y), Delivery Gross Bookings of $14.32 billion (+6% Y/Y), and Freight Gross Bookings of $1.54 billion (+42% Y/Y).
Trips grew 19% Y/Y to 2.1 billion, or 23 million per day.
Uber's Monthly Active Platform Consumers reached 131 million, up 11% Y/Y.
Margins: Uber clocked an Adjusted EBITDA of $665 million, driven by Mobility.
Uber's Adjusted EBITDA margin as a percentage of Gross Bookings was 2.2%, up from 0.3% in Q4 2021.
Uber's EPS loss of $(0.08) beat the consensus loss of $(0.18).
Uber held $4.3 billion in cash and equivalents and used $303 million in free cash flow.
Uber CEO Dara Khosrowshahi saw no signs of any consumer weakness.
Khosrowshahi proposed to sell his stake in DiDi Global Inc (OTC:DIDIY) over time, as per a CNBC interview.
Uber committed $800 million to help Uber drivers switch to EVs.

Outlook: Uber expects Q1 Gross Bookings of $31 billion - $32 billion and Adjusted EBITDA of $660 million - $700 million.

Price Action: UBER shares traded higher by 7.28% at $37.44 premarket on the last check Wednesday.

Photo: Shutterstock

To add Benzinga News as your preferred source on Google, click here.

Uber Clocks 49% Revenue Growth In Q4: CEO Sees No Signs Of Slowdown, Commits $800M For EV Transition