Uber Technologies, Inc. stock research
FY2023 Q2
Uber Technologies (UBER) Gross Margin — Quarter Ended Jun 30, 2023
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit also rose across both periods. Gross margin was stable versus the immediately preceding quarter but improved compared to the year-ago quarter.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit also rose across both periods. Gross margin was stable versus the immediately preceding quarter but improved compared to the year-ago quarter.
- The relationship among revenue, cost of revenue, and gross profit shows that revenue growth outpaced cost of revenue growth when compared to the year-ago quarter, leading to the improved gross margin. Sequentially, revenue and cost of revenue increased at similar rates, resulting in a stable gross margin.
- Relative to the immediately preceding quarter, gross margin was essentially stable. Compared to the same quarter one year earlier, gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
31.8%
Gross profit
$2.9B
Revenue
$9.2B
Cost of revenue
$6.3B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
+4.5 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $8.8B | $2.8B | $6.0B | 31.9% |
| Jun 30, 2023 | $9.2B | $2.9B | $6.3B | 31.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-0.1 pts
Year-over-year change
FY2022 Q2
+4.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, cost of revenue, and gross profit shows that revenue growth outpaced cost of revenue growth when compared to the year-ago quarter, leading to the improved gross margin. Sequentially, revenue and cost of revenue increased at similar rates, resulting in a stable gross margin.
Relative to the immediately preceding quarter, gross margin was essentially stable. Compared to the same quarter one year earlier, gross margin was higher.
Monitor the trajectory of cost of revenue in relation to revenue, as the sequential stability of gross margin depended on their similar growth rates.