Uber Q3 revenue beats; expects Q4 gross bookings of $52.25 bln to $53.75 bln

Overview

• Uber Q3 revenue grows 20% yr/yr, beating analyst expectations

• Adjusted EBITDA for Q3 rises 33% yr/yr, reflecting strong operational performance

• Net income for Q3 reaches $6.6 bln, aided by a $4.9 bln tax valuation release

Outlook

• Company anticipates Q4 Gross Bookings of $52.25 bln to $53.75 bln

• Uber expects Q4 Adjusted EBITDA of $2.41 bln to $2.51 bln

• Company expects a 1 percentage-point currency tailwind to YoY growth

Result Drivers

• TRIP GROWTH - Trips increased 22% YoY, driven by a 17% rise in Monthly Active Platform Consumers and a 4% increase in trips per MAPC

• DELIVERY SEGMENT - Delivery gross bookings grew 25% YoY, contributing significantly to revenue growth

• STRATEGIC INVESTMENTS - CEO highlights investments in customer relationships, local commerce, and AI as growth drivers

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 45 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the online services peer group is "buy"

• Wall Street's median 12-month price target for Uber Technologies Inc is $109.00, about 8.5% above its November 3 closing price of $99.72

• The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release:

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