Uber Technologies Clocks Strong Q4 Performance, CEO Terms It 'Profitable Growth At Scale'
Portfolio Pulse from Anusuya Lahiri
Uber Technologies, Inc. (NYSE:UBER) reported a strong Q4 FY23 performance with a 15% year-on-year revenue growth to $9.94 billion, surpassing the consensus of $9.76 billion. GAAP EPS was $0.29, beating the consensus of $0.17. Despite the positive results, UBER shares dropped 1.73% in premarket trading. Revenue from Mobility, Delivery, and Freight segments showed varied growth, with Mobility leading. Gross Bookings and Trips also saw significant increases. The company expects Q1 gross bookings between $37.0 billion to $38.5 billion and an adjusted EBITDA of $1.26 billion to $1.34 billion.
February 07, 2024 | 1:40 pm
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Uber Technologies reported strong Q4 FY23 results with revenue and EPS beating consensus. However, shares dropped 1.73% premarket. The company expects continued growth in Q1.
Despite Uber's strong Q4 performance and positive outlook for Q1, the immediate reaction in premarket trading was negative, likely due to market expectations already pricing in the positive results or concerns over future growth sustainability.
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