Uber Q4 net profit totals $6.8 billion, revenue jumps 25%; Gross bookings up 18% to $44.2 billion | Stock Market News

Uber Technologies Inc. reported weaker-than-expected fourth-quarter earnings and operating income, overshadowing steady bookings growth. Shares declined in premarket trading on Wednesday.

Adjusted earnings before interest, taxes, depreciation and amortization were $1.84 billion, just shy of the $1.85 billion that Wall Street was projecting, Uber said in a statement on Wednesday. Income from operations for the fourth-quarter was $770 million, well below the average estimate of $1.2 billion. “Discrete legal and regulatory related matters” offset income gains from a “strong operating performance,” Chief Executive Officer Dara Khosrowshahi said in a prepared statement.

Gross bookings, which includes ride hails, delivery orders and driver and merchant earnings but not tips, grew 18% to $44.2 billion in the last three months of 2024. For the current quarter, it forecast bookings of $42 billion to $43.5 billion. Bloomberg’s data included one analyst estimate for gross bookings for the fourth and first quarters.