Uber Technologies UBER reported solid fourth-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings per share (EPS) of $3.21 outpaced the Zacks Consensus Estimate of 50 cents and improved more than 100% on a year-over-year basis.

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Total revenues of $11.9 billion beat the Zacks Consensus Estimate of $11.7 billion. The top line jumped 20.4% year over year on a reported basis and 21% on a constant currency basis.

Uber Technologies, Inc. Price, Consensus and EPS Surprise

Uber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Technologies, Inc. Quote

In the reported quarter, the majority (57.7%) of the company’s revenues came from Mobility. Revenues from this segment jumped 25% year over year on a reported basis and 26% on a constant currency basis to $6.91 billion, owing to an increase in Mobility gross bookings due to a rise in trip volumes. The actual segmental sales figure was above our expectations of $6.74 billion.

Revenues from the Delivery segment increased 21% year over year on a reported basis and 20% on a constant currency basis to $3.77 billion, owing to an increase in delivery gross bookings due to an increase in trip volumes and a rise in advertising revenues. The actual segmental sales figure was above our expectations of $3.56 billion.

Freight revenues were $1.27 billion, down 0.4% year over year on a reported basis and constant currency basis due to a decrease in revenue per load due to the challenging freight market cycle, partially offset by an increase in volume. The actual segmental sales figure was below our expectations of $1.30 billion.

Adjusted EBITDA in the fourth quarter surged 44% to $1.84 billion. The reported figure lies above the guided range of $1.78-$1.88 billion.

Gross bookings from Mobility improved 18% year over year on a reported basis and 24% on a constant currency basis to $22.7 billion. Gross bookings from Delivery augmented 18% year over year on a reported basis and constant currency basis to $20.1 billion. Gross bookings from Freight came in at $1.27 million in the fourth quarter, down 0.5% year over year on a reported basis and constant currency basis.

Total gross bookings ascended 18% year over year on a reported basis and 21% on a constant currency basis to $44.1 billion. The reported figure was within the guided range of $42.75 billion-$44.25 billion.

Uber exited the fourth quarter with cash and cash equivalents of $5.89 billion compared with $6.15 billion at the end of the prior quarter. Long-term debt, net of the current portion, at the end of the reported quarter was $8.34 billion compared with $10.98 billion in the previous quarter.

Operating cash flow was $1.75 billion in the reported quarter, and free cash flow was $1.70 billion.

UBER’s 1Q25 Guidance

For the first quarter of 2025, Uber expects gross bookings of$42.00-$43.5 billion, indicating year-over-year growth of 17%-21% on a constant currency basis.

The adjusted EBITDA is estimated to be in the range of $1.79 billion-$1.89 billion, suggesting year-over-year growth of 30% to 37%.

UBER’s Zacks Rank

Currently, UBER carries a Zacks Rank #3 (Hold).

Upcoming Q4 Releases of Other Computer and Technology Companies

Lyft LYFT has an Earnings ESP of +4.12% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It is scheduled to post fourth-quarter earnings on Feb. 11. The Zacks Consensus Estimate for earnings is pegged at 23 cents per share. LYFT exceeded earnings estimates in each of the trailing four quarters, the average surprise being 68.9%. LYFT shares have gained 28% in the past six months.

DoorDash DASH has an Earnings ESP of +22.50% and a Zacks Rank #3 at present. It is scheduled to post fourth-quarter earnings on Feb. 11. The Zacks Consensus Estimate for earnings is pegged at 34 cents per share.

DASH exceeded earnings estimates twice in the last four quarters, missing the mark on the other two occasions. The average miss is 86.2%.
 

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