Uber

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: