Uber: net profit more than tenfold in Q3

(CercleFinance.com) - Uber announces that gross bookings reached $40.
9 billion on the platform in Q3, up 16% compared to the same period, revealing sales of $11.1 billion for Uber, up 20% year-on-year.

Adjusted EBITDA stands at $1.69 billion, up 55%.

Uber reports net income, group share of $2.61 billion, up more than tenfold in one year (it was $221 million in Q3 2023).

' We delivered another record quarter of profitable growth globally, reflecting the strength of our platform, which now boasts more than 25 million Uber One members,' said CEO Dara Khosrowshahi.

' We continue to build with an eye to the future, optimizing our products for new customer segments and geographies, introducing nationwide passenger verification to increase driver safety, and launching shuttles to airports and event venues,' he added.

For Q4, Uber is targeting adjusted EBITDA of $1.78 to $1.88 billion, representing year-on-year growth of 39% to 47%.

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