Uber, the online car giant, today announced its first quarter 2023 financial results:
- Total bookings for the first quarter were $31.4 billion (currently about RMB 217.602 billion), up 19 percent year-over-year.
- Revenue of $8.8 billion (currently about RMB 60.984 billion), up 29% year-over-year.
- Net loss attributable to the Company was $157 million (currently approximately RMB 1.088 billion), compared to a net loss of $5.93 billion (currently approximately RMB 41.095 billion) in the same period last year.
- Adjusted EBITDA was $761 million (approximately RMB 5.274 billion), up $593 million year-over-year.
Uber expects total bookings of $33 billion to $34 billion (currently approximately RMB 228.69 billion to RMB 235.62 billion) and adjusted EBITDA of $800 million to $850 million (currently approximately RMB 5.544 billion to RMB 5.891 billion) for the second quarter of 2023.
Uber CEO Dara Khosrowshahi said, “Our travel growth accelerated significantly to 24 percent in the first quarter from 19 percent in the prior year quarter, and mobility travel growth was 32 percent due to increased driver and consumer engagement. Looking ahead, our focus on expanding our product, scale and platform strength will sustain market-leading revenue and profit growth beyond 2023.
Uber Chief Financial Officer Nelson Chai said, “We achieved record profitability and free cash flow in the first quarter, and we are poised to expand profitability again in the second quarter.
