Uber conference call line8/8/2023 ![]() ![]() We're not seeing any kind of jumps one way or the other. So on mobility, we've looked at our mobility consumers from an income basis to see if there's any delta in behavior. And part of it is that the consumer spending is strong and not only is consumer spending strong, but shifting over from retail to services and we are the beneficiary of that. And right now, frankly, we're not seeing any signs of consumer weakness. So Brian, as you can imagine with everything going on, we have been looking very closely for any signs both internally and so that we can communicate to our investors. Can you just talk to us about sort of philosophically the next few years that the key strategy is to get those lower-frequency users using the platform three, four, five more times per month? Thanks.Ībsolutely. I think if we break apart the rides business a little bit between high-frequency users and the lower frequency users, there's still a lot of MAPCs, who are pretty infrequent users, a few times a month. And then the second one maybe a bigger picture one. Just kind of curious, are you seeing any changes in consumer behavior or trade down or differences in what your income cohorts, how they're acting across rides, eats, U.S., Europe? Just any sign at all of weakening within the consumer of your MAPCs. The guidance seems really solid, particularly given the backdrop. The first one, Dara, you mentioned the fourth quarter bookings trends. Your first question comes from the line of Brian Nowak with Morgan Stanley. With that, let's open the call to questions. With over $1 billion in adjusted EBITDA of $693 million in free cash flow so far this year, we've demonstrated how our global scale and unique advantages of our platform are combining to generate meaningful profits and we're confident in our ability to build on this momentum. We've seen these trends continue into the fourth quarter with October tracking to be our best month ever for mobility and total company gross bookings. Cities are reopening travel is booming and more broadly, a continued shift of consumer spending from retail back to services. Underlying this performance are several trends that represent tailwinds for us. Despite the uncertain global economic environment and considerable foreign exchange headwinds, we again issued Q4 EBITDA guidance that shows strong incremental progression and remain confident in our ability to deliver healthy top and bottom line growth with strong free cash flow generation. Uber delivered yet another strong quarter with gross bookings up 32% year-on-year, EBITDA of $516 million, an all-time high and well above our guidance range and solid free cash flow of $358 million. We will open the call to questions following a brief opening remarks from Dara. We published our quarterly earnings press release, prepared remarks and supplemental slides to our Investor Relations website earlier today, and we ask you to review those documents if you haven't already. Actual results may differ materially from these forward-looking statements, and we do not undertake any obligation to update any forward-looking statements we make today, except as required by law.įor more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today as well as risks and uncertainties described in our most recent annual report on Form 10-K for the year ended Decemand in other filings made with the SEC when available. You should not place undue reliance on forward-looking statements. Such statements can be identified by terms such as believe, expect, intend and may. As a reminder, these numbers are unaudited and may be subject to change.Ĭertain statements in this presentation and on this call are forward-looking statements. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures are included in the press release, supplemental slides and our filings with the SEC, each of which is posted to. During today's call, we will present both GAAP and non-GAAP financial measures. On the call today, we have Uber CEO, Dara Khosrowshahi and CFO, Nelson Chai. Thank you for joining us today, and welcome to Uber's third quarter 2022 earnings presentation. It is now my pleasure to turn today's conference over to Mr. After the speakers' remarks, there will be a question-and-answer session. All lines have been placed on mute to prevent any background noise. ![]() At this time, I would like to welcome everyone to the Uber Third Quarter 2022 Earnings Conference Call. My name is Brent, and I will be your conference operator today. ![]() Ladies and gentlemen, thank you for standing by. ![]() ( NYSE: UBER) Q3 2022 Earnings Conference Call Novem8:00 AM ETīalaji Krishnamurthy – Head-Investor Relationsĭara Khosrowshahi – Chief Executive Officer ![]()
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