• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Earnings

Uber’s Q3 Shows Record Profits Mask Growth Concerns as Stock Takes a Hit

Paul Balo by Paul Balo
November 2, 2024
in Earnings
Share on FacebookShare on Twitter

Despite posting impressive profits, Uber’s stock tumbled 9% after its Q3 results revealed some interesting patterns in the post-pandemic ride-hailing and delivery landscape. Let’s dive into the details:

The Big Numbers:

  • Revenue: $11.19B (beating expectations by $210M)
  • Net Income: $2.6B (a massive jump from $221M last year)
  • EPS: $1.20 (nearly tripling analyst expectations)
  • Monthly Active Users: 161M (up 13% year-over-year)

Uber’s dramatic profit increase comes with a caveat – $1.7B of it stems from unrealized gains from investment revaluations. However, their adjusted EBITDA of $1.69B shows genuine operational strength, up 55% year-over-year.

Segment Breakdown:

  • Mobility (Rides):
    • $21B in bookings (up 17%)
    • Revenue hit $6.41B (exceeding forecasts)
    • Showing strong post-pandemic recovery
  • Delivery:
    • $18.7B in bookings (up 16%)
    • Revenue reached $3.47B (beating expectations)
    • Maintaining growth despite reopening headwinds
  • Freight:
    • $1.31B revenue (modest 2% growth)
    • Showing resilience in challenging logistics market

Despite these strong numbers, Wall Street’s concerns centred on gross bookings ($40.97B) missing expectations ($41.25B). This metric is crucial as it indicates future growth potential.

CEO Dara Khosrowshahi is playing it safe, focusing on organic growth and smaller acquisitions rather than major deals like the rumoured Expedia bid. They’re leveraging their core business strength to invest in new capabilities.

Looking Ahead: Q4 Guidance:

  • Bookings: $42.75B-$44.25B
  • Adjusted EBITDA: $1.78B-$1.88B These projections suggest continued growth, though perhaps not at the pace some investors hoped for.

While Uber’s showing impressive profitability and solid growth across segments, investors seem concerned about the pace of expansion and whether the company can maintain its growth trajectory in an increasingly competitive market.”

Related Posts:

  • Uber's Q2 Earnings: Revving Up But Missing The High Gear
  • Uber's Beats Estimate For Revenue, Shares Soar By…
  • Uber Reports Better-than-expected Third-quarter…
  • Analysts Say Lyft Is Losing Market Share To Uber After The Company Issued Its Third Quarter Earnings Results And Weak Guidance For The Ongoing Quarter
    Analysts Say Lyft Is Losing Market Share To Uber…
  • amazon-dark-logo-png-transparent
    Amazon Q1 2025: Strong Earnings Amid Tariff Concerns
  • Bitcoin Conference Draws Cryptocurrency Fans To Miami
    Block Stock Soars 16% on Strong Earnings, Analyst Upgrades
  • Cisco Issues Impressive First Quarter Earnings Results And Strong Outlook For Fiscal 2023
    Cisco Issues Impressive First Quarter Earnings…
  • Samsung-Galaxy-Note-4
    Pinterest's Impressive Third-Quarter Earnings Report…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: uberuber earningsuber q3 2024
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts May 8, 2025
    • Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know May 8, 2025
    • Netflix Unveils AI‑Driven TV App Overhaul May 7, 2025
    • OpenAI Reverses For‑Profit Pivot, Non-profit Retains Control May 7, 2025
    • Airtel Africa & SpaceX to Bring Starlink to Underserved Areas May 6, 2025
    • Zone’s Blockchain Network Adds Accelerex & ITEX May 6, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (576) artificial intelligence (419) business (482) china (132) cryptocurrency (209) ecommerce (122) enterprise (287) facebook (507) fintech (243) funding (121) gadget (558) gaming (201) google (709) government (469) instagram (173) internet (466) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (439) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (835) software (509) startup (419) streaming (174) telecom (241) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (200) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    May 8, 2025
    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    May 8, 2025
    Netflix Unveils AI‑Driven TV App Overhaul

    Netflix Unveils AI‑Driven TV App Overhaul

    May 7, 2025
    OpenAI Reverses For‑Profit Pivot, Non-profit Retains Control

    OpenAI Reverses For‑Profit Pivot, Non-profit Retains Control

    May 7, 2025
    Airtel Africa & SpaceX to Bring Starlink to Underserved Areas

    Airtel Africa & SpaceX to Bring Starlink to Underserved Areas

    May 6, 2025
    Zone’s Blockchain Network Adds Accelerex & ITEX

    Zone’s Blockchain Network Adds Accelerex & ITEX

    May 6, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok