UBER Q3 2024 Earnings

Call Details

• Call Title: Uber Technologies, Inc. Q3 2024 Earnings Call
• Date: October 31, 2024 at 12:00 PM UTC
• Management Team:
  • Deepa Subramanian (Vice President, Investor Relations)
  • Dara Khosrowshahi (Chief Executive Officer)
  • Prashanth Mahendra-Rajah (Chief Financial Officer)

Call Summary

Financial Performance

• Gross bookings were up 20% year-on-year in constant currency for the quarter.
• The company reported an all-time high GAAP operating profit of more than $1B for the quarter.
• More than 7.8M people drove, delivered, or shopped with Uber and earned more than $18B during the quarter.
• Delivery gross bookings grew 17% year-on-year for the quarter.
• Uber reported that advertising revenue grew nearly 80% year-on-year.
• EBITDA grew at almost three times the rate of gross bookings growth according to the CFO's prepared remarks.

Guidance

• The company expects trip activity in Q4 to be roughly in line with Q3 with a modest deceleration driven by less year-over-year pricing impact.
• CFO said mobility should be thought of as growing in the low 20% range on a constant currency basis for Q4.
• CFO expects EBITDA margin to be flattish sequentially into Q4.
• The company reiterated its policy to pass along insurance cost increases and to pass along insurance cost decreases.