Uber Technologies Inc (UBER) delivered impressive financial results for Q4 2024, with revenues reaching $11.96 billion, a 20.36% year-over-year increase, and a solid gross profit margin of 39.51%. The company also reported a net income of $6.88 billion, significantly higher than previous quarters, showcasing a net income margin of 57.55%.
The fourth quarter highlights an acceleration in multi-product use among Uber consumers, which reached an all-time high of 37%. Additionally, the Uber One membership program expanded significantly, adding five million new members for a total of 30 million, indicating robust customer loyalty and demand. Despite faced with foreign exchange headwinds and fluctuating cost pressures, Uber’s performance exceeded internal expectations, indicating strong momentum as it enters 2025.