From Nasdaq: 2024-08-06 13:14:00

Uber Technologies reported second-quarter 2024 earnings of 47 cents per share, surpassing estimates and increasing over 100% year-over-year. Total revenues of $10.7 billion also beat expectations, rising 16% year-over-year. The majority of revenue came from the Mobility segment, which saw a 25% increase in revenues.

Gross bookings from Mobility improved 23% to $20.554 billion, while Delivery segment bookings grew 16% to $18.126 billion. Freight segment revenues decreased by 0.5% to $1.273 billion. Uber’s adjusted EBITDA surged 71% to $1.570 billion in the second quarter.

For the third quarter, Uber expects gross bookings between $40.25 billion and $41.75 billion, reflecting 18-23% year-over-year growth. Adjusted EBITDA is projected to be between $1.58 billion and $1.68 billion, indicating 45% to 54% year-over-year growth. Stock performance has outperformed industry growth, with shares up 31.4% in the past year.

In comparison, Alphabet reported second-quarter earnings of $1.89 per share, beating estimates and rising 31.3% year-over-year. Revenues of $84.74 billion increased 14% year-over-year. Amphenol saw second-quarter earnings of 43 cents per share, beating estimates by nearly 5%, with net sales increasing 18.2% year-over-year to $3.61 billion.



Read more at Nasdaq: UBER Q2 Earnings & Revenues Surpass Estimates, Up Y/Y