Uber posts first-quarter revenue of $10.1 billion, net loss of $650 million

Sina Technology News On the evening of May 8, Beijing time, Uber (NYSE: UBER) today released its financial report for the first quarter of 2024 as of March 31: revenue was US$10.1 billion, a year-on-year increase of 15%

Special topic: Focus on the first quarter financial report of US stocks in 2024. View the latest market trends. Sina Technology News, evening news on May 8, Beijing time. Uber (NYSE: UBER) today released its financial report for the first quarter of 2024 as of March 31: revenue was 101 billion US dollars. A year-on-year increase of 15%.
The net loss attributable to Uber was US$654 million, compared with a net loss of US$157 million in the same period last year.
Third quarter results: Gross bookings were US$37.7 billion, a year-on-year increase of 20%.
If the impact of exchange rate changes is not included, the year-on-year increase would be 21%.
Among them, the total number of orders for online ride-hailing services was US$18.7 billion, a year-on-year increase of 25%.
If the impact of exchange rate changes is not included, the year-on-year increase would be 26%.
Delivery service orders totaled US$17.7 billion, a year-on-year increase of 18%.
If the impact of exchange rate changes is not included, the year-on-year increase will be 17%.
Revenue was US$10.13 billion, a year-on-year increase of 15%. Slightly higher than the average analyst estimate of US$10.11 billion.
Among them, the total revenue of online ride-hailing services and delivery services was US$8.8 billion, a year-on-year increase of 19%.
Operating profit was US$172 million, a year-on-year increase of US$434 million and a month-on-month decrease of US$480 million.
Net loss attributable to Uber was US$654 million. This included US$721 million in unrealized net losses related to the revaluation of equity investments. This compared with a net loss of US$157 million in the same period last year.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was US$1.4 billion, a year-on-year increase of 82%. It was higher than analysts’ expectations of US$1.32 billion.
Operating cash flow was US$1.416 billion, compared with US$606 million in the same period last year.
Free cash flow was US$1.359 billion, compared with US$549 million in the same period last year.
As of the end of the first quarter, Uber had $5.8 billion in unrestricted cash, cash equivalents and short-term investments.
In the first quarter, Uber’s monthly active consumers were 149 million, compared with 130 million in the same period last year.
The number of trips in the first quarter was 2.6 billion, a year-on-year increase of 21%. The average number of trips per day was approximately 28 million.
Performance Outlook: Uber expects total order volume in the second quarter of 2024 to reach US$38.75 billion to US$40.25 billion, a year-on-year increase of 18% to 23%.
Adjusted EBITDA will reach US$1.45 billion to US$1.53 billion, a year-on-year increase of 58% to 67%.
As the total number of orders in the first quarter did not meet expectations and the guidance for the second quarter was lower than analysts\’ expectations, Uber\’s stock price fell nearly 10% in pre-market trading today.

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