Uber (UBER) Posts Strong Q3 Results but Offers Cautious Outlook for Q4

Core Insights - Uber Technologies Inc. reported strong third-quarter results, with earnings per share of $1.20, significantly exceeding analyst expectations of $0.69 [1] - Revenue increased by 19% to $13.47 billion, while gross bookings rose by 21% to $49.7 billion compared to the previous year [2] - Adjusted EBITDA saw a 33% increase, totaling $2.3 billion, and trip volume surged to 3.5 billion, driven by growth in active users and rider engagement [2] Financial Performance - The company’s revenue for Q3 was $13.47 billion, reflecting a 19% year-over-year growth [2] - Gross bookings reached $49.7 billion, marking a 21% increase from the previous year [2] - Adjusted EBITDA increased by 33% to $2.3 billion [2] Future Outlook - For Q4, Uber's guidance is conservative, expecting gross bookings between $52.25 billion and $53.75 billion, and adjusted EBITDA ranging from $2.41 billion to $2.51 billion, slightly below market expectations [3] - CEO Dara Khosrowshahi highlighted the importance of continued investment in customer relationships and AI-driven innovation for future growth [3]