Copyright cnbc
Uber said its net income included a $4.9 billion benefit from a tax valuation release and a $1.5 billion net pretax benefit from reevaluations of equity investments. For the fourth quarter, Uber forecast gross bookings between $52.25 billion and $53.75 billion, versus a StreetAccount estimate of $52.10 billion. The company expects adjusted EBITDA to range between $2.41 billion and $2.51 billion, versus $2.47 billion expected by StreetAccount. Khosrowshahi said the company’s focus on innovation and affordability drove strong trips and gross bookings for the period. Uber’s monthly active platform consumers increased 17% to 189 million. The company said it logged 3.5 billion trips during the quarter, up 22% from a year ago. “At this point we see blue skies,” Khosrowshahi told CNBC’s “Squawk Box” on Tuesday. “Obviously, we are watching out in terms of the economies, the global economies, but at this point, the business continues to hit on all cylinders.” Khosrowshahi said the company is also harnessing artificial intelligence to build more solutions for its drivers and couriers, and working with large language model creators such as OpenAI. He said he expects Uber’s ongoing growth to come from internal innovations and occasional acquisitions. Here’s how the company’s key business segments performed: Mobility (gross bookings): $25.11 billion, up 20% year over yearDelivery (gross bookings): $23.32 billion, up 25% year over year Mobility segment revenue rose to $7.68 billion, slightly ahead of a StreetAccount estimate of $7.63 billion. Uber’s delivery business reported revenue of $4.48 billion, which topped the $4.31 billion projected by StreetAccount. Correction: Uber’s net income nearly tripled to $6.6 billion. An earlier version misstated the figure.
