Uber (UBER) offers stronger-than-expected bookings outlook

Uber (NYSE: UBER) issued a robust gross bookings outlook for the first quarter.

The stock was down 0.8% in premarket trading.

For Q4, the ride-hailing giant posted earnings per share (EPS) of $0.66, well ahead of the consensus estimates of $0.16. Revenue came in at $9.94 billion, while analysts expected $9.76 billion.

The company reported gross bookings of $37.58 billion in the fourth quarter, marking a 22% increase year-over-year and surpassing the estimated $37.12 billion.

The company's mobility bookings reached $19.29 billion, slightly above the $19.1 billion forecast, while delivery bookings came in at $17.01 billion, beating the $16.76 billion estimate.

Furthermore, Uber's monthly active platform consumers rose to 150 million, a 15% YoY increase, and surpassing the anticipated 148.19 million.

Looking ahead to Q1, Uber expects gross bookings in the range of $37 billion to $38.5 billion, compared to $37.26 billion estimated by analysts.

Adjusted EBITDA is anticipated to range from $1.26 billion to $1.34 billion, exceeding expectations of $1.25 billion.

“2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale,” said Dara Khosrowshahi, Uber’s CEO.

“Our audiences are larger and more engaged than ever, with our platform powering an average of nearly 26 million daily trips last year.”

By Vahid Karaahmetovic

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