Uber reports 20% revenue growth in fourth-quarter, fueled by food delivery

Core Insights - Uber reported better-than-expected revenue for the fourth quarter, but shares declined in premarket trading following the earnings release [1] Financial Performance - Revenue increased to $14.37 billion, surpassing the estimated $14.32 billion [5] - Mobility segment revenue reached $8.2 billion, a 19% increase year-over-year, while delivery revenue climbed 30% to $4.9 billion [1] - Net income for the quarter was $296 million, significantly down from $6.88 billion a year earlier, impacted by a $1.6 billion net pre-tax headwind from equity investment revaluations [2] Gross Bookings - Gross bookings for the quarter totaled $54.1 billion, exceeding the average analyst estimate of $53.1 billion [3] - For the first quarter, gross bookings are expected to increase by at least 17% year-over-year, projected between $52 billion and $53.5 billion [3] Business Segments - The delivery business showed the strongest revenue growth, expanding from restaurants to include groceries and retail [4] - Partnerships with various brands, including OpenTable and Shopify, contributed to the delivery segment's expansion [4]