Uber FY24 positive, Waabi plus Volvo, GM minus Cruise and tariffs

#movingpeople is a part of Mobility Business? - a consultancy dedicated to "All Things Mobility", focused on growth.

Uber published its 2024 results and key takeaways are:?

• Trips grew by 19% YoY to 11.27 billion

• Gross booking up 18% to $162.7 billion
• Revenue also up 18% to $44 billion
• Revenue / gross booking margin: 27%, same as in 2023 (across all products and geos)
• Adjusted EBITDA and FCF profitable
• Mobility is 51.6% of total gross bookings and 57.8% of total revenue; mobility revenue margin grew from 28.7% in 2023 to 30.3% in 2024
• Delivery is 45.5% of gross bookings and 31.5% of revenue; delivery revenue margin grew from 18.3% in 2023 to 18.7% in 2024

Uber stock initially went down due to analysts’ fears of currency headwinds, softener US ride-hailing demand and etc. etc. - that is until Bill Ackman started buying $2.3 billion worth of Uber shares because he thinks Uber is “massively discounted” - and the stock shot up.?

For Uber’s 2024 8-K financial results visit here and for my Uber’s 2023 analysis - visit here.?

#movingpeople is now on the Beehiiv blogging platfrom. For more of this week's stories and charts, follow this link: