Uber’s Q2 2024 financial results exceeded expectations with $0.47 earnings per share （EPS） and $10.7 billion in revenue, demonstrating strong profitability and growth across key segments.
Points
- Uber’s Q2 revenue reached $10.7 billion, slightly above expectations.
- The company reported $0.47 EPS and a 19% increase in gross bookings.
- Mobility and Delivery segments showed significant growth.
- Adjusted EBITDA surged by 71% to $1.6 billion, reflecting efficient cost management.
Uber’s financial results for the second quarter of 2024 have exceeded market expectations, reporting $0.47 earnings per share （EPS） and $10.7 billion in revenue. This performance underscores Uber’s strong profitability and growth across its key business segments. The company’s gross bookings increased by 19% to $40.0 billion, with mobility gross bookings rising by 23% and delivery gross bookings by 16%.
UBER Reports Better Than Expected Q2 Results
Revenue for the quarter stood at $10.7 billion, slightly above the expected $10.57 billion, despite the adverse impact of business model changes. Mobility and Delivery segments both contributed to this growth, with Mobility revenue increasing by 25% year-over-year to $6.1 billion and Delivery revenue growing by 8% to $3.3 billion. The Freight segment remained flat year-over-year, contributing $1.3 billion in revenue.
Strong Profitability and Cash Flow
Uber demonstrated strong profitability with an income from operations reaching $796 million, a 144% increase from the same period last year. Adjusted EBITDA surged by 71% to $1.6 billion, highlighting the company’s efficient cost management and operational leverage. Operating cash flow for the quarter was $1.8 billion, and free cash flow stood at $1.7 billion.
Future Outlook and Guidance
Looking ahead to the third quarter of 2024, Uber provided optimistic guidance. The company anticipates gross bookings to be in the range of $40.25 billion to $41.75 billion, representing 18% to 23% year-over-year growth on a constant currency basis. Adjusted EBITDA is expected to be between $1.58 billion and $1.68 billion, reflecting 45% to 54% year-over-year growth. However, the strengthening of the US dollar is expected to pose a significant headwind to Q3 gross bookings.
解説
- Uber’s Q2 results highlight its strong market position and ability to exceed financial expectations.
- The company’s growth in Mobility and Delivery segments indicates robust demand for its services.
- Efficient cost management and operational leverage are key drivers of Uber’s profitability.
- Future guidance reflects confidence in continued growth despite currency headwinds.