Uber Technologies Q4 Net Income Rises; Gross Bookings Up 21% On Constant Currency Basis

(RTTNews) - Uber Technologies, Inc. (UBER) reported that its fourth quarter net income attributable to Uber increased to $1.43 billion from $595 million, a year ago. The company noted that its result included a $1.0 billion net tailwind primarily due to net unrealized gains related to the revaluation of Uber's equity investments. Earnings per share $0.66 compared to $0.29. On average, 35 analysts polled by Thomson Reuters expected the company to report profit per share of $0.17, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $1.28 billion, an increase of 93% from a year ago.

Fourth quarter revenue grew 15% to $9.9 billion, or 13% on a constant currency basis. Analysts on average had estimated $9.76 billion in revenue. Combined Mobility and Delivery revenue grew 22% to $8.7 billion, or 20% on a constant currency basis.

Fourth quarter Gross Bookings grew 22% year-over-year to $37.6 billion, or 21% on a constant currency basis. Monthly Active Platform Consumers or MAPCs were 150 million, up 15%, driven by continued improvement in consumer activity for both Mobility and Delivery offerings. Trips were 2.6 billion, an increase of 24%. Unrestricted cash, cash equivalents, and short-term investments were $5.4 billion at the end of the quarter.

For first quarter, the company anticipates: gross bookings of $37.0 billion to $38.5 billion; and adjusted EBITDA of $1.26 billion to $1.34 billion.

Prashanth Mahendra-Rajah, CFO, said: "We're looking forward to sharing more about our strategy and capital allocation plans at our Investor Update next week."

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