Uber Technologies, Inc. stock research
FY2024 Q4
Uber Technologies (UBER) Gross Margin — Quarter Ended Dec 31, 2024
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter last year. Gross margin improved sequentially and year-over-year, reflecting a higher proportion of revenue retained after cost of revenue.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter last year. Gross margin improved sequentially and year-over-year, reflecting a higher proportion of revenue retained after cost of revenue.
- The strongest observable margin driver is the improvement in gross margin relative to both the prior quarter and the year-ago quarter, as gross profit grew faster than revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were higher, and gross margin improved. Compared to the same quarter one year earlier, all metrics were higher, and gross margin strengthened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.0%
Gross profit
$3.9B
Revenue
$12.0B
Cost of revenue
$8.0B
Quarter-over-quarter change
+0.5 pts
Year-over-year change
+2.2 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, 2024 | $10.1B | $3.2B | $7.0B | 31.3% |
| Jun 30, 2024 | $10.7B | $3.4B | $7.3B | 32.0% |
| Sep 30, 2024 | $11.2B | $3.6B | $7.6B | 32.5% |
| Dec 31, 2024 | $12.0B | $3.9B | $8.0B | 33.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
+0.5 pts
Year-over-year change
Dec 31, 2023
+2.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the improvement in gross margin relative to both the prior quarter and the year-ago quarter, as gross profit grew faster than revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were higher, and gross margin improved. Compared to the same quarter one year earlier, all metrics were higher, and gross margin strengthened.
Monitor the trend in cost of revenue relative to revenue, as its growth rate influences gross margin direction.