$UBER 3Q21 Earnings ⤴️
- Rev $4.8b +72% ↗️
- Adj EBITDA +$8m ⤴️ margin 0% +2238bps ✅
- 9M OCF $1b ⤴️ (vs -$2.7bn prev) ✅
- Bookings $23b +53% ↗️
- Mobility Bookings $10b +67% ↗️
- Delivery Bookings $13b +50% ↗️
- Trips 1.6b +39% ↗️
- MAPCs 109m +40% ↗️ +8%QoQ ↗️
- Rev $4.8b +72% ↗️
- Adj EBITDA +$8m ⤴️ margin 0% +2238bps ✅
- 9M OCF $1b ⤴️ (vs -$2.7bn prev) ✅
- Bookings $23b +53% ↗️
- Mobility Bookings $10b +67% ↗️
- Delivery Bookings $13b +50% ↗️
- Trips 1.6b +39% ↗️
- MAPCs 109m +40% ↗️ +8%QoQ ↗️
➡️ Return of Top-line Revenue Growth
- Total $4.8b +72% ↗️
- Delivery $2.2b +97% 🚀
- Mobility $2.2b +62% ↗️
- Freight $402m +40% ↗️
➡️ Higher Take Rates
- Total 21.0% +190bps ↗️✅
- Delivery 17.4% +410bps ↗️✅
- Mobility 21.1% -200bps ↘️
- Total $4.8b +72% ↗️
- Delivery $2.2b +97% 🚀
- Mobility $2.2b +62% ↗️
- Freight $402m +40% ↗️
➡️ Higher Take Rates
- Total 21.0% +190bps ↗️✅
- Delivery 17.4% +410bps ↗️✅
- Mobility 21.1% -200bps ↘️
➡️ Improving Adj EBITDA Margins across all 3 Key Business Units ⭐️
- Adj EBITDA +$8m ⤴️ margin 0% +2238bps ✅
- Mobility Adj EBITDA $544m +122% 🚀 ↗️ margin 25% +671bps ✅
- Delivery Adj EBITDA -$12m ⤴️ margin 0% +1557bps ✅
- Freight Adj EBITDA -$35m ⤴️ margin -9% +1664bps ✅
- Adj EBITDA +$8m ⤴️ margin 0% +2238bps ✅
- Mobility Adj EBITDA $544m +122% 🚀 ↗️ margin 25% +671bps ✅
- Delivery Adj EBITDA -$12m ⤴️ margin 0% +1557bps ✅
- Freight Adj EBITDA -$35m ⤴️ margin -9% +1664bps ✅
➡️ Rev by Region: NA and EMEA Business (~77%)
- NA $2.6b +66% ↗️
- EMEA $1.1b +80% ↗️
- APAC $743m +131% 🚀
- LATAM $390m +29% ↗️
- NA $2.6b +66% ↗️
- EMEA $1.1b +80% ↗️
- APAC $743m +131% 🚀
- LATAM $390m +29% ↗️
➡️ Rental Demand for Hertz from Uber: Uber renting up to 50K Tesla M3 from Hertz
“Announced a new partnership with Hertz to make up to 50,000 fully electric Tesla Model 3 vehicles available for drivers to rent by 2023, exclusively for drivers using the Uber network in the US.”
“Announced a new partnership with Hertz to make up to 50,000 fully electric Tesla Model 3 vehicles available for drivers to rent by 2023, exclusively for drivers using the Uber network in the US.”
➡️ Key Takeaways for $UBER:
Unit economics returning with growth and improving take-rates, directionally improving adj EBITDA across segments and first quarter of positive adj EBITDA profitability $8m (guiding to 2nd for 4Q21 with $25-75m) and improving FCF metrics.
Unit economics returning with growth and improving take-rates, directionally improving adj EBITDA across segments and first quarter of positive adj EBITDA profitability $8m (guiding to 2nd for 4Q21 with $25-75m) and improving FCF metrics.
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