From Financial Modeling Prep.: 2024-10-31 10:37:00

Uber Technologies (NYSE:UBER) exceeded analyst expectations in Q3 with adjusted earnings per share of $1.20 and revenue of $11.19 billion, a 20% increase. Despite this, shares fell over 9% intra-day as investors reacted tepidly to the results.

The company’s gross bookings hit $41 billion in Q3, up 16% year-over-year, driven by 17% growth in Mobility to $21 billion and a 16% increase in Delivery to $18.7 billion. Uber also achieved $1.1 billion in operating income, a milestone for the company.

Uber’s adjusted EBITDA rose 55% year-over-year to $1.7 billion in Q3, showing strong financial performance. Looking forward, the company projects Q4 gross bookings between $42.75 billion and $44.25 billion, with adjusted EBITDA expected to be in the range of $1.78 billion to $1.88 billion.



Read more at Financial Modeling Prep.:: Uber Shares Drop 9% Despite Strong Q3 Earnings