Uber, the U.S. ride-sharing company, reported on the 5th that it recorded $11.96 billion in revenue for the fourth quarter of last year, exceeding market expectations. The ride-sharing and DILLI delivery businesses continue to show stable growth, while also accelerating the expansion of its autonomous vehicle business.
Uber's fourth-quarter revenue increased by 20% compared to the previous year, surpassing the expectations of Wall Street analysts surveyed by LSEG, which stood at $11.77 billion. The mobility (ride-sharing) institutional sector recorded $6.91 billion in revenue, a 25% increase year-on-year, while the delivery institutional sector posted $3.77 billion, a 21% increase.
In particular, Uber's gross profit reached $6.9 billion, significantly up from $1.4 billion in the same period last year. This includes a tax evaluation benefit of $6.4 billion and a pre-tax profit of $556 million due to stock investment re-evaluation. However, adjusted earnings per share were $0.23, falling short of the expected $0.50.
For the first quarter of this year, total bookings are expected to be between $42 billion and $43.5 billion, with Uber planning to enhance its long-term revenue strength based on the continued growth of its ride-sharing and delivery services.
On this day, Uber also made significant progress in its autonomous driving business. It reaffirmed plans to launch RoboTaxis in Austin, Texas, through a partnership with Waymo, the autonomous driving subsidiary of Google's parent company Alphabet. Actively executing on the collaboration plan announced last September, Uber expressed its commitment to lead innovation in the mobility industry.
Dara Khosrowshahi, CEO of Uber, noted, "Uber's performance is due to rapid innovation and execution, and I am particularly focused on the enormous opportunities that autonomous driving technology will bring," adding, "We will take this year as a solid foundation for growth and continuously move towards our long-term strategy."
He further added, "While autonomous driving technology is advancing, it requires time for commercialization, and in some regions, regulatory barriers remain a challenge."