Uber released its financial report for the second quarter of fiscal year 2024: the total number of online ride-hailing orders increased by 23% year-on-year to US$20.6 billion, and the total number of delivery service orders increased by 16% to US$18.1 billion.

News from this site on August 6, Uber today released its financial report for the second quarter of 2024 as of June 30, with both revenue and profit exceeding Wall Street analysts’ expectations.
In the second quarter, Uber’s revenue was $10.7 billion, higher than analysts’ expectations of $10.57 billion. Earnings per share were 47 cents, topping analysts' expectations of 31 cents.
Uber CEO Dara Khosrowshahi said: “Uber’s growth engine continues to run, with trip growth exceeding 20% ​​for the sixth consecutive quarter and profitability reaching a record high. Uber’s consumers It’s never been stronger (used by more people and more frequently than ever before), and driver and courier revenue hit an all-time high of $17.9 billion in the quarter.”
Second Quarter Results:
Orders. Total
Gross Bookings was US$40 billion, a year-on-year increase of 19%. Excluding the impact of currency changes, year-on-year growth would have been 21%.
Among them, online ride-hailing service orders totaled US$20.6 billion, a year-on-year increase of 23%. Excluding the impact of currency changes, year-over-year growth would have been 27%.
Delivery service orders totaled $18.1 billion, up 16% year-over-year. Excluding the impact of currency changes, year-on-year growth would have been 17%.
Revenue
Revenue was $10.7 billion, up 16% year-over-year. Excluding the impact of currency changes, year-on-year growth would have been 17%. That was above analysts' expectations of $10.57 billion.
Among them, the total revenue of online ride-hailing services and delivery services was US$9.4 billion, a year-on-year increase of 19%. Excluding the impact of exchange rate changes, year-on-year growth would have been 20%.
Uber said changes in its business model had a negative impact of 7 percentage points on year-over-year growth in total revenue.
Profit
Operating profit was US$796 million, an increase of US$470 million year-on-year and an increase of US$624 million sequentially.
Net income attributable to Uber was $1 billion, including a gain of $333 million (unrealized net gain related to the revaluation of Uber’s equity investment), compared with net income of $394 million in the year-ago period.
Earnings of 47 cents per share were higher than analysts’ expectations of 31 cents, compared with 18 cents per share in the year-earlier period.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $1.6 billion, up 71% year-over-year.
Cash flow
Operating cash flow was $1.8 billion, compared to $1.2 billion in the year-ago period.
Free cash flow was $1.7 billion, compared to $1.1 billion a year ago.
Uber had $6.3 billion in unrestricted cash, cash equivalents and short-term investments at the end of the second quarter.
In the second quarter, Uber’s monthly active consumers were 156 million, compared with 137 million in the same period last year.
The number of trips in the second quarter was 2.8 billion, an increase of 21% year-on-year, and an average of approximately 30 million trips per day.
Performance Outlook:
Uber expects total order volume to reach US$40.25 billion to US$41.75 billion in the third quarter of 2024, a year-on-year increase of 18% to 23%.
Adjusted EBITDA will reach $1.58 billion to $1.68 billion, a year-over-year increase of 45% to 54%.

The above is the detailed content of Uber released its financial report for the second quarter of fiscal year 2024: the total number of online ride-hailing orders increased by 23% year-on-year to US$20.6 billion, and the total number of delivery service orders increased by 16% to US$18.1 billion.. For more information, please follow other related articles on the PHP Chinese website!