Proactive Investors - Uber Technologies Inc (NYSE:UBER) has said 2023 was an inflection point as it unveiled expectation-beating final quarter results on Wednesday.
Per share earnings sat at US$0.29 for the final quarter, Uber said in a full-year results release on Wednesday, ahead of FactSet consensus estimates for US$0.16.
Final-quarter revenue of US$9.9 billion and bookings of US$37.6 billion also beat expectations, which had the figures coming in at US$9.8 billion and $37.1 billion respectively.
“2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale,” chief executive Dara Khosrowshahi said.
“Our audiences are larger and more engaged than ever, with our platform powering an average of nearly 26 million daily trips.”
For the full-year, revenue jumped by 17% to US$37.3 billion, while per-share earnings sat at US$0.87, compared to a loss of US$4.65 in 2022.
Chief financial officer Prashanth Mahendra-Rajah said disciplined investment over the year had led to “record engagement” in the final quarter, signalling demand over the Christmas period had been robust.
An investor update will be provided next week, he added, with the company tipping bookings will sit between US$37.0 billion and US$38.5 billion for the first quarter, as adjusted pre-tax earnings come in around US$1.26 billion and US$1.34 billion.
Shares slipped following the update, falling 1.8% to US$69.20.