"Our results this quarter once again demonstrate our ability to deliver consistent, profitable growth at scale..."
— Dara Khosrowshahi
03Detailed Report
UBER
Uber Technologies Inc
Period
Q1 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 29, 2026
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Executive Summary
Uber Technologies Inc (UBER) delivered a strong performance in Q1 2024, reporting revenue of $10.13 billion, reflecting a year-over-year growth of 14.82% and a quarter-over-quarter increase of 1.96%. The company experienced a remarkable rise in gross bookings, largely driven by a 21% increase in trips and a 15% growth in its audience base. Despite these positive metrics, net income fell to -$654 million, representing a substantial year-over-year decrease of 316.56%. Management emphasized the ongoing challenges posed by regulatory pressures and competition while highlighting their operational efficiency and solid free cash flow of $1.4 billion, alongside expectations for continued growth into Q2 2024.
Overall, Uber showcases improved operational metrics yet continues to wrestle with net profitability issues. Management indicated robust growth expectations for Q2 2024, with consistency in their middle-to-high teens revenue growth target, despite FX headwinds affecting mobility bookings.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
10.13B
14.82%
1.96%
Gross Profit
3.96B
11.20%
2.17%
Operating Income
172.00M
165.65%
-73.62%
Net Income
-654.00M
-316.56%
-145.77%
EPS
-0.31
-296.93%
-144.93%
Key Financial Ratios
Gross Profit Margin
Fair
39.10%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Weak
1.70%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.06%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.02%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.06%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.21
Current ratio meets minimum requirements but limited cushion
Debt to Equity
High Risk
1.01
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Negative
-60.70x
Negative earnings make P/E ratio not meaningful
Price to Book
High Premium
14.36x
Very high premium suggests asset-light business model or lofty expectations
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