Uber Clocks 72% Revenue Growth In Q3 As Recovery Kicks In, Doesn't See Consumer Spend Slowdown

Uber Technologies, Inc UBER reported third-quarter FY22 revenue growth of 72% year-on-year to $8.34 billion, beating the consensus of $8.12 billion.
Uber: Revenue from Mobility grew to $3.82 billion (+73% Y/Y), Delivery was $2.77 billion (+24% Y/Y), and Freight at $1.75 billion (336% Y/Y).
Gross Bookings grew 26% Y/Y to $29.1 billion, with Mobility Gross Bookings of $13.7 billion (+38% Y/Y) and Delivery Gross Bookings of $13.7 billion (+7% Y/Y).
Trips grew 19% Y/Y to 1.95 billion, or 21 million per day.
Margins: Uber clocked an Adjusted EBITDA of $516 million, driven by Mobility.
Uber's Adjusted EBITDA margin as a percentage of Gross Bookings was 1.8%, up from 0% in Q3 2021.
Uber's EPS loss of $(0.35) missed the consensus loss of $(0.22).
Uber held $4.9 billion in cash and equivalents and generated $358 million in free cash flow.
Dara Khosrowshahi, the CEO, said, "Even as the macroeconomic environment remains uncertain, Uber's core business is stronger than ever."
Uber CEO on Consumer spending: Company sees "absolutely no signs of slowing down"
Outlook: Uber expects Q4 Gross Bookings of $30 billion - $31 billion and Adjusted EBITDA of $600 million - $630 million.
Price Action: UBER shares traded higher by 15.20% at $30.63 on the last check Tuesday.

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