Uber Half-Year Report 2023

Financial Highlights for Second Quarter 2023

• Gross Bookings grew 16% year-over-year (“YoY”) to $33.6 billion, or 18% on a constant currency basis, with Mobility Gross Bookings of $16.7 billion (+25% YoY or +28% YoY constant currency) and Delivery Gross Bookings of $15.6 billion (+12% YoY or +14% YoY constant currency). Trips during the quarter grew 22% YoY to 2.3 billion, or approximately 25 million trips per day on average.
• Revenue grew 14% YoY to $9.2 billion, or 17% on a constant currency basis.
• Income from operations was $326 million, up $1.0 billion YoY and $588 million quarter-over-quarter (“QoQ”).
• Net income attributable to Uber Technologies, Inc. was $394 million, which includes a $386 million benefit (pre-tax) primarily due to net unrealized gains related to the revaluation of Uber’s equity investments.
• Adjusted EBITDA of $916 million, up $552 million YoY. Adjusted EBITDA margin as a percentage of Gross Bookings was 2.7%, up from 1.3% in Q2 2022. Incremental margin as a percentage of Gross Bookings was 12.2% YoY.
• Net cash provided by operating activities was $1.2 billion and free cash flow, defined as net cash flows from operating activities less capital expenditures, was $1.1 billion.
• Unrestricted cash, cash equivalents, and short-term investments were $5.5 billion at the end of the second quarter.