Uber released its Q4 and full-year earnings on Wednesday, posting its strongest quarter to date.
The ride-hailing company generated $8.6B in revenue, up 49% YoY. Gross Bookings grew 19% YoY to $30.7B. Net income fell to $595M from $892M reported during the same period in 2021.
- Uber reported Q4 Mobility Gross Bookings of $14.9B, up 31% YoY, and Delivery Gross Bookings of $14.3B, up 6% YoY.
- The company’s freight business posted $1.5B in sales for the quarter.
- Uber’s monthly active users rose 11% in the quarter to 131 million.
- Full-year revenue was $31.9B, up 83% YoY, and Gross Bookings for the year rose 28% to $115.4B.
- The company expects Q1 2023 Gross Bookings to grow 20% to 24% on a constant currency basis, or around $31B to $32B.
- Uber shares closed at $36.83, up more than 5% for the day.
NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber.
