Uber Technologies Inc. reported its strongest quarter ever in its financial history, posting a record revenue of $9.1 billion for the fourth quarter of 2024, a significant increase from $8.6 billion in the previous quarter. The company also reported an adjusted EBITDA of $1.1 billion, up from $900 million year-over-year, showcasing a robust growth trajectory. However, despite these impressive financial results, Uber’s stock faced a decline, trading down by 5% in after-hours trading following the earnings announcement. CEO Dara Khosrowshahi acknowledged the challenges ahead but emphasized the company’s focus on becoming profitable. ‘We are committed to balancing growth and profitability,’ said Khosrowshahi during the earnings call. He further highlighted Uber’s progress in diversifying its services, with delivery and freight growing significantly, contributing to about 34% of total revenue. Uber’s ride-sharing sector continues to recover steadily, driven in part by a rebound in urban travel post-pandemic. The company also announced a $5 billion share buyback program, aimed at boosting shareholder value. Despite strong metrics and a hopeful outlook, investors remained cautious due to rising competition and operational challenges. Analysts remain optimistic about Uber’s potential but advise monitoring the market closely.
Uber Reports Record Q4 Earnings for 2024 Despite Stock Decline
