Uber: tax credit boosts Q4 earnings

(CercleFinance.com) - On Wednesday Uber Technologies announced that it had more than quintupled its net income in Q4, thanks to substantial tax credits.


The San Francisco-based company posted net income, group share, of $6.88bn for Q4, compared with $1.43bn in Q4 2023.

It points out that this result includes a tax credit of $6.4bn.

Meanwhile, operating income grew by a more limited 18% to $770m, on sales that rose 20% to $11.96bn.

Total billings, a closely watched indicator, rose by 18% to $44.2bn, including 21% growth at constant exchange rates.

For Q1, Uber nonetheless says it expects gross billings growth to slow from 17% to 21% at constant exchange rates.

It also says it expects adjusted Ebitda growth to slow to between 30% and 37% in Q1 2025, compared with 44% growth in Q4 2024.

Following this publication, the stock was down over 6% in pre-market trading on Wednesday morning in New York.


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