(AOF) – Although its title is down 5.8% to 46.6 dollars in New York, Uber posted a net profit of 394 million dollars in the second quarter of 2023. A year ago, at the same period, the American multinational had posted a loss of 713 million dollars. Additionally, its adjusted EBITDA of $916 million versus $364 million, up 152% year-on-year. Its sales increased from $8.07 billion in the second quarter of 2022 to $9.23 billion in the second quarter of 2023, an increase of 14% year-on-year or 17% at constant exchange rates.
The increase in its sales is driven by the growth of its “Mobility” (38% year-on-year) and “Delivery” (14% year-on-year) activities. However, revenues from its “Freight” activity fell by 30% year-on-year over one year.
Uber says its gross bookings grew 16% year over year (between Q2 2022 and Q2 2023) to $33.6 billion, or 18% in constant currency.
Those for the “Mobility” activity amounted to 16.7 billion dollars (ie growth of 25% over 12 months or 28% in constant currencies). Gross bookings for the “Delivery” activity amounted to 15.6 billion dollars (an increase of 12% or 14% in constant currencies over 12 months).
Net cash from operating activities was $1.2 billion in the second quarter of 2023 from $439 million a year ago, representing a jump of 171%.
Free cash flow (defined as net cash flow from operating activities less capital expenditures) was $1.14 billion versus $382 million a year ago, representing a jump of 198%.
“Sustained demand, new growth initiatives and continued cost discipline delivered a strong quarter, with rides up 22% and GAAP operating profit for the first time in the company’s history. ‘Uber,” said Dara Khosrowshahi, CEO of Uber.
On the outlook side, for the third quarter of 2023, Uber expects gross reservations of 34 to 35 billion dollars and an adjusted EBITDA of between 975 million dollars and 1.03 billion dollars.
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