Uber Technologies revenue of $3.2 billion grew 13% quarter-over-quarter

Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the fourth quarter and full year ended December 31, 2020.

Financial Highlights for Fourth Quarter 2020

• Gross Bookings grew 16% quarter-over-quarter (“QoQ”) to $17.2 billion, down 5% year-over-year (“YoY”), or 4% on a constant currency basis, with Delivery Gross Bookings growing 128% YoY and Mobility Gross Bookings declining 47% YoY, respectively, on a constant currency basis.

• Revenue grew 13% QoQ but declined 16% YoY, or 15% on a constant currency basis. Delivery Revenue grew 19% QoQ and 224% YoY while Mobility Revenue grew 8% QoQ and declined 52% YoY.

• Net loss attributable to Uber Technologies, Inc. was $968 million, which includes $236 million in stock-based compensation expense.

• Adjusted EBITDA loss of $(454) million, reduced by $171 million QoQ and by $161 million YoY, and represented (14.3)% margin as a percentage of revenue.

• Mobility Adjusted EBITDA of $293 million, up $48 million QoQ and down $449 million YoY, and represented 19.9% margin as a percentage of Mobility Revenue.

• Delivery Adjusted EBITDA loss of $(145) million, reduced by $38 million QoQ and by $316 million YoY, and represented (10.7)% margin as a percentage of Delivery Revenue.

• Unrestricted cash, cash equivalents and short-term investments were $6.8 billion at the end of the fourth quarter.

“While 2020 certainly tested our resilience, it also dramatically accelerated our capabilities in local commerce, with our Delivery business more than doubling over the year to a nearly $44 billion annual bookings run-rate in December,” said Dara Khosrowshahi, CEO. “With two global businesses stitched together by world-class tech and increasingly valuable membership programs, we are more focused than ever on making people’s lives a little bit easier—helping them go wherever they want and get whatever they need.”

“We made some big moves this year, acquiring businesses like Cornershop and Postmates while divesting others like ATG and Jump, and structurally lowering our cost base,” said Nelson Chai, CFO. “These decisions have resulted in a much more focused and ultimately stronger company. In Q4 we continued to deliver improving Adjusted EBITDA performance, up $171 million quarter-over-quarter, and remain well on track to achieving our profitability goals in 2021.”