![]() ![]() ![]() “We remain focused on excellent execution and disciplined cost management to deliver on our growth and profitability commitments for the coming years.” "Strong demand for our offerings, better marketplace efficiency, and our asset-light platform helped to deliver Adjusted EBITDA well above our guidance, even as foreign exchange and inflationary headwinds impact all global businesses,” said Nelson Chai, CFO. “Even as the macroeconomic environment remains uncertain, Uber’s core business is stronger than ever.” “Our global scale and unique platform advantages are working together to drive more profitable growth, with Gross Bookings growth of 32% and record Adjusted EBITDA of $516 million,” said Dara Khosrowshahi, CEO. Unrestricted cash and cash equivalents were $4.9 billion at the end of the third quarter. Net cash provided by operating activities was $432 million, and free cash flow, defined as net cash flows from operating activities less capital expenditures, was $358 million. Adjusted EBITDA margin as a percentage of Gross Bookings was 1.8%, up from 0% in Q3 2021. ![]() Additionally, net loss includes $482 million in stock-based compensation expense.Īdjusted EBITDA of $516 million, up $508 million YoY. was $1.2 billion, which includes a $512 million net headwind (pre-tax) primarily due to net unrealized losses related to the revaluations of Uber’s equity investments. Net loss attributable to Uber Technologies, Inc. Revenue grew 72% YoY to $8.3 billion, or 81% on a constant currency basis, with Revenue growth significantly outpacing Gross Bookings growth due to the acquisition of Transplace by Uber Freight and a change in the business model for our UK Mobility business. Trips during the quarter grew 19% YoY to 1.95 billion, or approximately 21 million trips per day on average. Gross Bookings grew 26% year-over-year (“YoY”) to $29.1 billion, or 32% on a constant currency basis, with Mobility Gross Bookings of $13.7 billion (+38% YoY or +45% YoY constant currency) and Delivery Gross Bookings of $13.7 billion (+7% YoY or +13% YoY constant currency). (NYSE: UBER) today announced financial results for the quarter ended September 30, 2022.įinancial Highlights for Third Quarter 2022 Operating cash flow of $432 million Free cash flow of $358 million Mobility Gross Bookings, Adjusted EBITDA and Adjusted EBITDA margin at all-time quarterly highs Uber Carshare is separate from Uber Rent, which lets users rent cars from providers like Hertz through the Uber app.Gross Bookings grew 26% year-over-year and 32% year-over-year on a constant currency basis Car availability will be listed in 15-minute increments and there are no requirements for how far in advance drivers will need to book. Uber aims to have several hundred vehicles listed to rent in Boston and Toronto at launch.ĭrivers will be able to pick up and return the vehicle through the Uber app. A company spokesperson told Quartz at the time that the company pulled the plug on the program to “think through the best way to offer Uber customers access to rentals in the Uber app.”Īutonomous Uber ride Your next Uber ride in Las Vegas could be in an autonomous vehicle How does Uber Carshare work? In April 2018, the company said it had partnered with startup Getaround and would begin testing a feature to let San Francisco drivers rent cars from peers through the Uber app.īy the following November, Quartz reported that Uber notified users that it would be shutting down the program. This isn't the first time Uber has dipped its toes into the car-sharing space. “We believe that Uber has an unprecedented ability to bring carsharing to the mainstream unlike any other company in the market today and we’re excited to launch this offering soon,” said Camiel Irving, general manager of mobility in the U.S. The market size was an estimated $1.6 million that year and is projected to reach $7.2 million in 2030, according to maket research and consulting firm Prescient & Strategic Intelligence. The peer-to-peer carsharing industry, which includes companies like Turo and Getaround, saw a boost in 2021 amid the rental car shortage. ![]()
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