Uber (UBER) Shares Up 5% on Strong Q4 Beat

Uber (NYSE: UBER) shares were trading around 5% higher after-hours following strong Q4 results, with EPS of $0.44, beating the consensus estimate of ($0.35). Revenue grew 83% year-over-year to $5.8 billion, compared to the consensus estimate of $5.34 billion.

Gross Bookings increased 51% year-over-year to $25.9 billion, with Mobility Gross Bookings of $11.3 billion (up 67% year-over-year) and Delivery Gross Bookings of $13.4 billion (up 34% year-over-year). Trips in Q4 grew 23% year-over-year to 1.77 billion.

According to Dara Khosrowshahi, CEO of Uber, more consumers were active on the company’s platform during Q4 than ever before, and Delivery reached adjusted EBITDA profitability. While the company started to see the impact of the Omicron variant in late December, Mobility Gross Bookings approached pre-pandemic levels, with 25% month-on-month growth in the most recent week.

The company provided its Q1/22 outlook, expecting Gross Bookings to range from $25 billion to $26 billion, and adjusted EBITDA of $100-$130 million.

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