Uber Technologies (UBER) Q4 2024 earnings summary

Executive summary

• Achieved accelerated growth in audience, trips, and gross bookings, surpassing guidance and prior commitments for 2024, with strong year-over-year increases in revenue, net income, and adjusted EBITDA.

• Uber One membership base reached 30 million, up 60% year-over-year, with 5 million new members added in Q4.

• Exceeded all three components of the three-year outlook presented last February, with strong momentum entering 2025.

• Net income for Q4 2024 was $6.9B, including a $6.0B–$6.4B tax benefit, and diluted EPS was $3.21.

• Continued investment and expansion in autonomous vehicle (AV) partnerships and technology, positioning for future growth.

Financial highlights

• Q4 2024 revenue reached $12.0B, up 20% year-over-year; gross bookings were $44.2B, up 18% year-over-year.

• Net income attributable to Uber was $6.88B for Q4 2024, compared to $1.43B in Q4 2023.

• Adjusted EBITDA for Q4 2024 was $1.84B, up 44% year-over-year, with a margin of 4.2% of gross bookings.

• Free cash flow for Q4 2024 was $1.71B, up 122% year-over-year; full-year free cash flow was $6.9B, up 105%.

• Liquidity position at year-end 2024 was $7.0B in unrestricted cash and short-term investments.

Outlook and guidance

• Q1 2025 guidance projects 17–21% constant currency gross bookings growth and adjusted EBITDA of $1.79–$1.89B, representing 30–37% year-over-year growth.

• Growth framework through 2026 targets low to mid-teens for the core business, with growth bets pushing into higher teens.

• Confident in meeting mid to high teens top-line and 30%–40% bottom-line growth over the three-year guidance period.