Uber Q2 FY23 Earnings:
EPS: $0.18 (expected $0.14)
Revenue: $9.23B (expected $9.34B)
Trips 2.28B (expected 2.25B)
Forecast sees Q3 Gross Bookings $34B To $35B (exp $33.98B)
CEO: "We reached 2 important milestones: our first-ever GAAP operating profit ($326M) & our first quarter of FCF of more than a billion dollars ($1.14B to be precise)"
CFO: "This quarter’s profitability milestone is an important step, but it’s just a step"
Uber Technologies Earnings Q2 FY23
Revenue miss
Earnings beat
Uber reports first quarterly operating profit in Q2 2023 results
Uber has reported an operating profit during a fiscal quarter for the first time in its history. They had a net income of $394 million for the quarter, up $1.0 billion year-over-year and $588 million versus the preceding quarter. The company attributed its net gain to a 22% increase in trips on the platform, combined with “cost discipline” according to CEO Dara Khosrowshahi.
Uber Q2 FY23 Earnings Snapshot:
Uber historical performance since Q4 2019
CEO: "Robust demand, new growth initiatives & continued cost discipline resulted in an excellent quarter, with trips up 22% & a GAAP operating profit, for the first time in Uber’s history"
Uber's cash burn is officially over! for now...
After losing $31.5 billion of operating income losses over the last nine years, Uber finally turned a profit during Q2.
Uber Q2 FY23 Revenue by Segment:
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