Will Uptick in Gross Bookings Aid UBER's Q4 Earnings Results?

Core Viewpoint - Uber Technologies is expected to report its fourth-quarter 2024 results on February 5, with a significant focus on gross bookings performance [1][7]. Financial Performance - In Q3 2024, Uber reported earnings per share of $1.20, a substantial increase from $0.10 in the previous year, surpassing the Zacks Consensus Estimate of $0.41 [3]. - Total revenues for Q3 2024 reached $11.18 billion, reflecting a year-over-year growth of 20.4%, exceeding the consensus estimate of $11 billion [3]. Segment Performance - The Mobility segment saw a revenue increase of 26% in Q3 2024, with gross bookings rising 17% year-over-year to $21 billion [4]. - The Delivery segment also performed well, with revenues growing 18% year-over-year and gross bookings increasing 16% to $18.7 billion, alongside a 17% rise in trips to 2.9 billion [5]. Cash Flow and Debt - At the end of Q3 2024, Uber had cash and cash equivalents of $6.15 billion, up from $4.49 billion in the previous quarter, while long-term debt increased to $10.98 billion from $9.45 billion [6]. Q4 Expectations - For Q4 2024, Uber anticipates gross bookings to be between $42.75 billion and $44.25 billion, indicating a year-over-year growth of 16-20% on a constant currency basis [7]. - The Mobility segment is expected to generate gross bookings of $23.25 billion, representing a 20.6% increase year-over-year, while the Delivery segment is projected to reach $19.6 billion, a 15.2% growth [8]. Earnings and Revenue Estimates - The Zacks Consensus Estimate for Q4 earnings is set at $0.50 per share, reflecting a decline of 24.2% year-over-year, while the sales estimate is $11.74 billion, indicating an 18.2% rise [9].