Uber Technologies (UBER) Revenue — Quarter Ended Sep 30, 2023
Revenue for the reported quarter increased compared to both the immediately preceding quarter and the same quarter one year earlier. The filing attributes the year-over-year growth primarily to an increase in Gross Bookings, driven by higher Mobility Trip volumes.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the reported quarter increased compared to both the immediately preceding quarter and the same quarter one year earlier. The filing attributes the year-over-year growth primarily to an increase in Gross Bookings, driven by higher Mobility Trip volumes.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$9.3B
Revenue reported for this quarter.
Quarter-over-quarter
+0.7%
Change from the immediately preceding quarter.
Year-over-year
+11.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$36B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $8.6B | +49.0% |
| Mar 31, 2023 | $8.8B | +28.7% |
| Jun 30, 2023 | $9.2B | +14.3% |
| Sep 30, 2023 | $9.3B | +11.4% |
Revenue performance
Revenue rose sequentially, continuing the upward trend observed over recent quarters. The year-over-year comparison also showed an increase, supported by broad-based growth in Mobility and Delivery Gross Bookings, partially offset by business model changes that reclassified certain costs as contra revenue.
Quarterly comparison
Compared with the immediately preceding quarter, revenue improved modestly. Relative to the same quarter one year earlier, revenue was higher, with the filing noting that the increase was primarily attributable to a rise in Gross Bookings, particularly from Mobility Trip volumes.
What to watch
The impact of business model changes that reclassified certain sales and marketing costs as contra revenue should be monitored, as it reduced reported revenue in the quarter.