Uber: tax effect boosts Q4 earnings

(CercleFinance.com) - Uber Technologies announced on Wednesday that it had more than quintupled its net income in Q4, thanks to substantial tax credits.


The San Francisco-based company said it had posted net income, group share, of $6.88 billion for the last three months of the year, compared with $1.43 billion for the same period in 2023.

It points out that this result includes a tax credit of $6.4 billion.

On the operating side, operating income grew by a more limited 18% to $770 million, on sales up 20% to $11.96 billion.

Total billings, a closely watched indicator, rose by 18% to $44.2 billion, including 21% growth at constant exchange rates.

For the first quarter, Uber nonetheless says it expects gross billings growth to slow from 17% to 21% at constant exchange rates.

It also says it expects adjusted Ebitda growth to slow to between 30% and 37% in the first three months of 2025, compared with 44% growth in Q4 2024.

Following this publication, the stock dropped more than 5% on Wednesday morning in electronic trading on the New York Stock Exchange.

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