Additionally, Mobility Take Rate in Q2 2022 was adversely impacted by 70 bps for an accrual made for the resolution of historical claims in the UK relating to the classification of drivers.ĭelivery Take Rate in Q2 2022 and Q2 2023 benefited from business model changes in some countries that classify certain payments and incentives as cost of revenue by 510 bps and 400 bps, respectively. Mobility Take Rate in Q2 2022 and Q2 2023 includes a net benefit from business model changes in the UK of 810 bps in each period. Delivery Revenue in Q2 2023 was also negatively impacted by business model changes that classified certain sales and marketing costs as contra revenue by $114 million. Additionally, Mobility Revenue in Q2 2022 was adversely impacted by a $97 million accrual made for the resolution of historical claims in the UK relating to the classification of drivers.ĭelivery Revenue in Q2 2022 and Q2 2023 benefited from business model changes in some countries that classify certain payments and incentives as cost of revenue by $711 million and $618 million, respectively. Mobility Revenue in Q2 2022 and Q2 2023 benefited from business model changes in the UK by $1.1 billion and $1.4 billion, respectively. Q2 2023 net income includes a $386 million net benefit (pre-tax) from revaluations of Uber’s equity investments. Q2 2022 net loss includes a $1.7 billion net headwind (pre-tax) from revaluations of Uber’s equity investments. See “Definitions of Non-GAAP Measures” and “Reconciliations of Non-GAAP Measures” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Net cash provided by operating activities Net income (loss) attributable to Uber Technologies, Inc. Monthly Active Platform Consumers (“MAPCs”) Gross Bookings of $34.0 billion to $35.0 billionĪdjusted EBITDA of $975 million to $1.025 billionįinancial and Operational Highlights for Second Quarter 2023 “I’m incredibly proud of the progress we’ve made, and Uber is well positioned to drive tremendous value for shareholders in the coming years.” “The unique power of the Uber platform and the team’s relentless focus on profitable growth was on full display in Q2, with record profitability and over $1 billion of quarterly free cash flow,” said Nelson Chai, CFO. “These results also translated into strong driver and courier engagement, with 6 million drivers and couriers earning a record $15.1 billion during the quarter.” “Robust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter, with trips up 22% and a GAAP operating profit, for the first time in Uber’s history,” said Dara Khosrowshahi, CEO. Unrestricted cash, cash equivalents, and short-term investments were $5.5 billion at the end of the second quarter. Net cash provided by operating activities was $1.2 billion and free cash flow, defined as net cash flows from operating activities less capital expenditures, was $1.1 billion. Incremental margin as a percentage of Gross Bookings was 12.2% YoY. Adjusted EBITDA margin as a percentage of Gross Bookings was 2.7%, up from 1.3% in Q2 2022. was $394 million, which includes a $386 million benefit (pre-tax) primarily due to net unrealized gains related to the revaluation of Uber’s equity investments.Īdjusted EBITDA of $916 million, up $552 million YoY. Net income attributable to Uber Technologies, Inc. Income from operations was $326 million, up $1.0 billion YoY and $588 million quarter-over-quarter (“QoQ”). Revenue grew 14% YoY to $9.2 billion, or 17% on a constant currency basis. Trips during the quarter grew 22% YoY to 2.3 billion, or approximately 25 million trips per day on average. Gross Bookings grew 16% year-over-year (“YoY”) to $33.6 billion, or 18% on a constant currency basis, with Mobility Gross Bookings of $16.7 billion (+25% YoY or +28% YoY constant currency) and Delivery Gross Bookings of $15.6 billion (+12% YoY or +14% YoY constant currency). (NYSE: UBER) today announced financial results for the quarter ended June 30, 2023.įinancial Highlights for Second Quarter 2023 Operating cash flow of $1.2 billion Record quarterly free cash flow of $1.1 billion Net income of $394 million Income from operations of $326 million Adjusted EBITDA margin at all-time high Gross Bookings grew 16% year-over-year and 18% year-over-year on a constant currency basis
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |