Uber Technologies, Inc. stock research
FY2023 Q4
Uber Technologies (UBER) Gross Margin — Quarter Ended Dec 31, 2023
Revenue and gross profit both increased from the previous quarter and the same quarter last year. Gross margin weakened slightly from the prior quarter but improved compared to the year-ago period.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue and gross profit both increased from the previous quarter and the same quarter last year. Gross margin weakened slightly from the prior quarter but improved compared to the year-ago period.
- Revenue grew faster than cost of revenue year-over-year, leading to an improved gross margin compared to the prior year. However, sequentially, cost of revenue increased at a slightly higher rate, resulting in a marginal decline in gross margin.
- Compared to the prior quarter, revenue was higher while gross margin was slightly lower. Compared to the same quarter last year, revenue and gross profit were higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
30.8%
Gross profit
$3.1B
Revenue
$9.9B
Cost of revenue
$6.9B
Quarter-over-quarter change
-0.0 pts
Year-over-year change
+0.8 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% |
| Sep 30, 2023 | $9.3B | $2.9B | $6.4B | 30.9% |
| Dec 31, 2023 | $9.9B | $3.1B | $6.9B | 30.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-0.0 pts
Year-over-year change
FY2022 Q4
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Revenue grew faster than cost of revenue year-over-year, leading to an improved gross margin compared to the prior year. However, sequentially, cost of revenue increased at a slightly higher rate, resulting in a marginal decline in gross margin.
Compared to the prior quarter, revenue was higher while gross margin was slightly lower. Compared to the same quarter last year, revenue and gross profit were higher, and gross margin improved.
Monitor the trend of cost of revenue relative to revenue to see if the sequential margin decline persists.