Uber: Journeys Attain New Excessive in ‘Strongest Ever’ Quarter

The fourth quarter was Uber’s “strongest quarter ever,” Uber CEO Dara Khosrowshahi mentioned throughout a Wednesday earnings name. 

The corporate additionally “reached a number of new milestones this quarter,” he mentioned. It crossed 2 billion quarterly journeys, and its “mobility shopper base exceeded 100 million for the primary time in our historical past,” he mentioned. “The Uber platform has by no means been stronger.”

The corporate didn’t point out Uber for Enterprise in the course of the name or in its U.S. Securities and Change Fee submitting associated to fourth-quarter and year-end outcomes.

Uber reported fourth-quarter gross bookings of $30.75 billion, a rise of 19 % yr over yr. Mobility accounted for $14.89 billion of gross bookings, for 48.4 % of the full.

Internet earnings for the quarter was $595 million on income of $8.61 billion. In contrast with the fourth quarter of 2021, web earnings was down 33 % whereas income elevated 49 %. 

Full-year gross bookings have been $115.4 billion, up 28 % yr over yr. Uber reported a web lack of $9.14 billion on full-year income of $31.88 billion, the latter of which elevated 83 % for the interval.

The variety of journeys in the course of the quarter was 2.1 billion, a quarterly file, and up 19 % yr over yr. Full-year journeys have been 7.64 billion, up 20 % from 2021. For the quarter, there have been 131 million month-to-month lively platform shoppers, up 11 % yr over yr. 

America and Canada accounted for 57.8 % of quarterly income at $4.98 billion, up 38 % yr over yr. Europe, the Center East and Africa elevated 110 % to $2.09 billion. 

In the course of the quarter, the corporate launched its Uber One membership program in Chile, France, Japan, Spain and Taiwan, and it’s now accessible in 12 international locations. “We acquired over 12 million members up, with membership having almost doubled for 2022, which is terrific,” Khosrowshahi mentioned. “Our efforts listed here are fairly lively. We’re pushing Uber One.”

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