Uber Technologies started 2023 on a strong note, with gross bookings up 22% yearly in constant currency. The company’s revenues were beyond analyst expectations and it also delivered lower-than-expected losses. Uber’s trips surpassed gross bookings increase, increasing to 24% from 19% the previous quarter. The $761 million in adjusted EBITDA exceeded the high end of the company’s expectations. In addition, Uber produced a 12% increased adjusted EBITDA margin and $549 million in free cash flow. Supply remained strong throughout the quarter. ETAs are decreasing, and the surge has decreased from Q4 to Q1, resulting in greater conversion rates regarding how many sessions the rider has and whether or not they convert on that session. Simultaneously, the management claims to be developing and providing a slew of new items and options for riders. We give Uber Technologies a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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