UBER - Earnings call transcript Q4 2024

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Operator

Hello, and welcome to the Uber Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Deepa Subramanian, Vice President, Investor Relations.

You may begin.

Deepa Subramanian

Thank you, operator. Thank you for joining us today, and welcome to Uber's Fourth Quarter and Full Year 2024 Earnings Presentation.

we CEO, today, CFO, Khosrowshahi; call Mahendra-Rajah. Prashanth the have Dara Uber and On

we both will financial call, today's During present measures. GAAP non-GAAP and

GAAP is slides and Additional a filings with included non-GAAP these each our investor.uber.com. the to of SEC, of which in supplemental disclosures are to non-GAAP release, measures, press the measures posted regarding reconciliation including

this statements. statements Certain are call in this presentation forward-looking and on

do results not place as undue any make statements, reliance may Actual differ not statements. forward-looking we materially should update You and required to forward-looking we undertake obligation statements any these from on by forward-looking law. except today,

as For materially risks in described most that from factors the the and may recent differ please our and in Form statements, with results well refer made to to issued more other the information forward-looking SEC. we filings press uncertainties cause about release XX-K actual as today

slides Relations ask published quarterly and earnings, press release, haven't you review and we remarks prepared today, already. Investor to supplemental you documents if earlier We our those to our website

open the call opening Dara. will following questions from remarks brief to We

me let Dara. that, With it over hand to

Dara Khosrowshahi

Deepa. Thanks,

our XX% for added total by line. It So bringing of XX across product our constant Uber consumers. of we bookings in above this the program, platform, few acceleration. driving XX% top membership up where nearly is to members accelerated growth strong in base X the Uber high end to of expectations, high multiproduct also year-on-year. million, all-time theme the performance One audience, a even use the powered member was million an quarter, and stellar innovation on months This quarter growth a our beat was currency trips in basis We own of Gross coming guidance. our

commitments versus annual commitment versus last I'm February, EBITDA We're to now the high cleanly to grew our XX% high-teens of to constant Gross investors And with exceeded of continued thrilled Despite XX-plus and to XX% X-year percentage as expansion. that Adjusted lot in with a presented our currency X and started we we FX XXs pleased XXXX, year-on-year XX% currency all that and XXXX EBITDA framework. of on XX% QX versus constant CAGR. three We're bookings CAGR. say into the XX% to outlook flow headwinds, growth with momentum. components strong profit growth we was free this our year have mid- XXX% a cash grew gross bookings performance indication percent. continued of in to expect

encourage partner some is is indispensable remarks Uber to Lastly, lot technical, we significantly go-to-market where of and longer, that this we key the the prepared undoubtedly be and more state have advancing, strategic and our AV while take that attention of The our will will management players. This come. quarter commercialization AV lots slides this investing technology to perspective topic top on everyone a read a of to I'd with and priorities, one conviction for we're on our AVs. autonomous. is supplemental spend word more takeaway time sharing

that app month. next announced we residents their list in their up right to can for Austin Uber when launch matching we today, of sign Just AV Waymo chances within increase interest

that, take let's With questions. operator, your

Operator

Morgan first Stanley. question from Nowak Brian comes with Your

Brian Nowak

My questions, I autonomous business. have core two, on rides one and one on the

is one, first Dara, So on autonomous. the

perspective? you you in sort where assets fleet more management or are about of have an you think how investing autonomous of the first-party As Or think you about do other roles? assets, on from car be it philosophically the assets at portfolio the of fleet company, the current portfolio autonomous

throughout profitability in little XXXX? just margins rides, core and sort you bit quarter and takes talk us to incremental the you how on on and then puts about And of think a business, can the about first

Dara Khosrowshahi

Absolutely.

that build, the us building And autonomous, in I for liquidity we that out very, that across kind we you you supply consistent I by X think well new product a out be demand of first parts basis magical the to liquidity think supply build kind on need We're portfolio. that Brian, to and the positioned. that way going in and it of every X are think of And can to So of variable see investing effect network the work. on think minutes kind we order the aggressively local side. on all you really for able provide match very ETAs investing about we is and

same the in with it's the it a we've cost, to supply high-capacity city. demand, magic in it autonomous, UberX with past. It's particular building for it then done the in it investment an we Like did we've the vehicles. out base happens taxi, did thing. in just And and variable match done with low We

investments You'll see fleet over investing in And is an up supply. that made that we're magic we make, far Austin as as that month. for we long time. work investment in in in coming absolutely a This a

of represent now Fleets inventory. XX% our about

very to kind autonomous. of in have fleets are market well we So manage positioned that can

OEMs various manufacturing next at generation We depots out their charging technical to required supply autonomous and preparing with players the are are then kind electrification scale platforms get for we securing And going as to cetera. fleets, of about for talking out looking -- to partnerships and of autonomous. are obviously, with et acquiring with building the

at to be impact investment. in is going as of It's and, the really think every So outlook units, think we've very commercial we the this apparent. But and you're kind investments, and in very, start which supply to we prepare aggressively way. But autonomous so a I the deliver which as these scale power would aggressive as broad of of with you're the time, even We AV that in the outlook low not is across same economics us van, can is do notice unlikely -- we be to of number term it investments, given to you. can this P&L. we starts the kind to investment some a going can it's that X-year X-year investing

Prashanth Mahendra-Rajah

the Brian, it's the I around to I'm think profitability, question. really second outlook. Prashanth. your part And trends of going question Mobility and that was take

So making returns where maybe growth look on we want the folks business total just that we see reminder company with potential. a the to start I'll segments is the we're way our at a at which across level, strongest do, and and based investment we decisions same

invest the February. in overall we're to continue So gave guys Mobility, going you with in back to we consistent that framework profitability

seeing to continue to other of of and opportunities into So a lot anything drive I profitability read wouldn't we're sort looks, invest how growth. Mobility than

we've XX% We In X.X% these our of that continued helping XX bookings, constant higher we on and strong supply of costs, that that overall, tailwind incentives, by the EBITDA operating QX, in number, saw closed, are this talked before. which quarter put just But which acceleration us currency up on points was that margin year-over-year. up about investments insurance in was offset U.S. basis benefits a from see and basis really Mobility growth leverage the costs was and some gross partially

So we're leaning membership. things into like

up that's the remarks, we another million area. is up in XX% great it's talked prepared year-over-year. I now, think think X members Teens XX million sequentially, I about

balance and usual Teens think available is to doubled marketplace areas quarter, some that more the number products. open the right finding in than I and geographies the new like in up we've the countries Uber and continuing fourth add of

top high mid- So overall Thanks think we is to year, those trade-offs we're hit last the great again, to the it's numbers question. that our make leave XXs once in that are driving to profitability. which X-year you of part continue back drive framework, we necessary also we'll and for we ensure high growth and gave And to teens that that model that February still XX% of line. to GB

Operator

question next Goldman Eric comes with The Sachs. Sheridan from

Eric Sheridan

just and Brian's businesses. in building question little out a bit Maybe both on widening it on supply

for a You potential and prior bit we and continue on a earnings talk little about growth driver into density. about network Can as how beyond they as sort scale be talked thinking should to how efforts potential you Mobility? rider and continue of areas those them and to XXXX a of about more extending for as the scale supply growth you stimulant calls

Delivery Delivery any of update is XX, business? How supply on user ago. months XX available is user should today behavior? dynamics to on size? behavior, it a the supply array in Obviously, to side, What the doing thinking we about shopper that's then impacting those the that very was And different basket be frequency, than

Prashanth Mahendra-Rajah

Great. Thank for the question. you

audience, and the to into round encourage then as often just how the with is and business, they combination are we first, hitting the our a our out platform is measure of we users everyone so frequency; else think who of are a the platform, turn with which every number So as it price engaging we GBs. trips month; growth you way too, of reminder,

So in the some the question some is dense coming is from. quarters, on sparser or I of of geographies, you're we've less comments on which where how last your we're couple made think focusing

get sort kind up length time reminder, business around we initiative making to sparser of penetration -- of the growth the at us to the core we're that business that push to so into can growth rate. into is core So low that areas less denser, those on grow to those bets the help focusing geos driving as to the an really that the a And dense higher is XXXX through framework growing extend teens. continue that in mid-teens for we in less then we're can of attractive and

or more a we've growth X to X things come are the of started where because penetrated. areas dense those bit years we One is versus that maybe populated down our in obviously has areas more observed were ago, or

in this a as offset realized initiative. into U.S. the across focused into same existed by Delivery that Now as say less I opportunity now we it's would we out U.S. initially expanded the This really that Delivery a business, can global one. Mobility and see started And non-U.S. world. programs on and in side, pushing we areas. creating real well areas. more as really we're much less really U.S. in promise around Mobility the as we're these space. both higher sparser the We where some now growth non-U.S. the finding this on in delivery, And

a dense past we've that few that it's us I in uncommon see growth And more to we ways. faster about talked or the more for not X.Xx do outside of areas. think

On it is the supply. Mobility side,

really as opening those about So more investing locations. into drivers new are and creating where cities it's bring such incentives supply to into areas, we

often when For some you think of to Europe. think of those continue those which Manchester, to got in our that add become grow you us in want of will we more U.K., example, out But areas. to sparser taxis, for We've London. the efforts us Liverpool, areas help now, populated

is pricing and the supply, So once the of use that that get the going incentives then of to sure to flywheel have spur is marketplace. can right demand we Uber we make magic the sort

consumers option on then product or say pay give some that less I the these with enhancements, that the who price dense areas of pay in is are they And with can would time. they can we

make product, something a to you And to want use that going be to need the tech there. there. know you us can want with accuracy like high allows able ride be you'll at your to who's you find it when pay location our we to someone our marketplace you of If is use give very sure will them price, you Reserve when which

couriers wait algos are you're to times, may bit And more a to which us again times. people if time, with are find in little extend we we're the wait region, the that or marketplace use pay to willing allow finding open in time more drivers longer the suburbs, there. get but take to to the who Or

Dara Khosrowshahi

on and quality. -- about about remain And listen, we're about think on price there, basis it's the the and same, is then rates selection, it's growth I the which what the delivery doing, all it's

terms selection, XX% active X we merchants, got up of big million year-on-year. and over small These are about In merchants.

merchants to out continued in we our kind X/X XX our merchant But about here total on markets, a look you in per top of those sales increase penetration markets. if have at of Our the year-on-year basis.

audience think we relates audience neighborhood runway Selection selection. to increases on it Eats a So but is amount well. as brings in eaters great conversion Uber there's available out once figure also that huge as new of their

on to terms to us is in able is lowering really a number for and of price. offers, getting of promote promotion. sort of merchant-funded the the price in so terms merchants high. initiative their all-time important speak, is Second This network being to that for order at And boosted

loyal effectively year-on-year. membership And is members. delivering essentially our then members, talked about, XX able discounts membership, to which now most million up Prashanth XX% That

is that actually to that perfect making of delivery defect actively rate then, price terms sure go down that sure So every of something quality, our we're on. working in continues And course, a very very, delivery. is making

for to getting a delivery example, those a to easier, quality it let's perfectly deliver, food much then we're And the Shopping more back-end just on online on grocery, relates it XX as focused side, of challenge. the say, XX is lot shoppers shoppers. and really for of for for It's right items home. to example, items, an

So marketplace our and we're quality cost well. shifting from really efficiency efficiency metrics cost and to as

membership push you growth growth selection, dense well. bring out combination good Super merchants less powered when frequency. in a -- as So you in price, campaigns, hopefully, all you'll and our get together, Bowl increased it's And by see areas that our there, of campaign growth all quality, into audience, marketing in you

there. So we're with trends very, the very happy

saw that got a runway here. quarter-on-quarter, that's long bookings accelerate and gross more we've You we think Delivery long, evidence just

Operator

Post The comes next from of with Justin question America. Bank

Justin Post

the of about Dara, seeing it. OEMs be high what now. only X companies talk think and visibility A you market could you evolve Appreciate U.S.-centric, couple remarks. how why and in releasing the X questions from might mentioned different remarks. AV you and you're right it with we're also just really not prepared X prepared on here companies Can globally? your companies

outlook, And QX. did think then currency on constant XX% the in I you

XX% guiding remarks in of also You're stable. being about But XX% kind to prepared there's QX.

cause currency be down be at more you what QX. to of the to maybe higher the about So would end to talk you constant would or in XX% what XX% driving XX%

Dara Khosrowshahi

Sure.

down. U.S. on think and enormous. scale trillion a the AVs, the alone is of first the market we you $X at of think I all, AV the is for economics bring as opportunity worldwide estimate and opportunity AVs unit U.S. that We commercialize

Tesla take of who see development that number you're players players And longer. think line while get market more in see the of of in we're we terrific terms get to many commercializes Waymo going you that to over incredibly in is the the so a including technology, commercialization excited a technology And the world speak, to the going to technology way, finish technology. over it the as time, the prime to and of and is obviously, way partner, many, the time by trying relates all to U.S., the

applies factors commercialization This to commercialization stepping basis. that for back say, And just applies of second. U.S. this the of which over on like of global for our world. a all scale you basis, and let's five a There it come the need, XX%, XX%, are U.S., a all is XX% scale volumes need together business, for

to you have get First, regulations.

affecting with be are enable technology regulations. comfortable to city complicated. regulations, It's pretty the -- get regulations. got regulators There You regulations, national have to Obviously, every this day. state new streets on our

for we comfortable, to good than consistently don't enough be a Second, autonomous human. we an think a Like regulators it's you record. think get to safety better superhuman in order need driver

I safety be of chance insist a the chance than I multiple human. better and that think And take times record. should industry kind think to have a on we superhuman the

get working seeing safety there as that many, other kind of and You're to get up and many safety record Waymo their record players well. definitely demonstrate

cost Third, dollars. hardware of cost-effective the you hundreds hardware a platform. platforms they now, of thousands need Like

there dollars. of There's a these tens to work get to thousands got many, to platforms. out of years the scale You've build in to hardware of be done to get many lot

terms about lost millions need and that there. recharging every basis And cleaning on was rate items, This high and is do every the items network we talking on-the-ground our lost network what day utilization solution finding year. fleet you as Fourth, can seasonal operations. before is in we flexible demand of a manage first a the of and like kind the variable of then fifth, with well, you I which supply need think hybrid best

all and way we we part is the the come really, AV ecosystem. that partnered think of think with together. business. need amazing really five You a to again a up terrific technology scale moving And to indispensable only five really could achieving kind come five we're all cool, of Uber from an all And together

to in and Now But et and out direct, our that Atlanta, see experimentation Uber the us, there. great to lots I where of with we're I to think AV cetera. especially, that Austin, you're we're clearly best going looking provider forward Waymo players of combination working pretty like going is going launches a combination AV think demonstrate a

I going this to apply And think the is over world. all in the apply going it's to U.S.,

too U.S., when is the think by getting to you're in et entities the from the prime So going these you cetera, in five come have tech years U.S. players. internationally. phase, be going development of all see don't now, of you're regulatory, in number time yes, to many But players a I time together, today, and the which to both

for great that in DeepSeek that's of We exciting the like the generative great that's seeing for generative the is AI competition happening you're think think thing in, in well. as happening think same AV in we kind AI, We industry, coming with And competition ecosystem. is. is how

world. it it the definitely see over going the and you're to see in You'll U.S., all

Prashanth Mahendra-Rajah

the I'll on think question, putting part in of our QX I Justin, perspective. guide that which was take second

drive the currency of to adding you X product maybe today. million actives great an roughly the start And be have a quarters. the growth or across get a indicator X at little even QX. of when last a XX XX the scale by delivered think globe. over It's is we led So we're of with And constant number how continues that of have acceptance impressive -- million let's every that XX% now we to out recap audience.,which growth GB continues year. at XX%

guide, FX-neutral relatively on it's be at XX% leverage we EBITDA. the to XX% about XX% to at outlined look going growth on similar basis, that on with so you our GB and that is great QX an underlying that When to for midpoint QX

down break context. -- elements in the I'll it of to GB growth put So some help that

the guidance first notable our First, includes headwinds. some for overcoming us quarter

Los we particularly down which guide, that through fires lapping South, cities. are QX impact the there, there well where quarter First, crazy as weather a the of last in year shut unusual from as from incorporated patterns, the in the did we've devastating already leap in snow And some year. some a number were came Angeles

can X points those to normalize making growth GB to easily to of there, you another just that. So adjustments X for get you if were

got Second, led we've to to similar by what in QX. QX be going the growth in again we audience, saw

and in So rinse terms probably audience comparison little and breakdown see a we it's of the in of -- a QX. repeat QX -- bit versus in to between frequency

And spend time is help the people how within I'll third, just exchange little a of where more about think context to Uber. foreign understand, to

FX be and top expecting about headwind, to a percentage larger X compares headwind outside sizable of in those Think a America, are our of So And U.S., represents points region, are in And QX. X.X we which GBs points to is U.S. the that of line of closer Latin QX. come the from that GBs. outside our international half then to about X/X

depreciation dollar, we Argentina, us. significant countries these Brazil. specifically number So countries for Latin notably that a U.S. on now And currency are focusing of and had America, Mexico against XX top the saw

of the line. on the feel impact top certainly we So them

our local currency, to for merchants regards to orders we local pay with our our trips in currency. helpful folks also is What drivers price while and is or Uber in remember we

our tend other which So be fluctuations, profit to G&A be exposure dollar-denominated those U.S. hedge, those build structure. U.S. expenses that that of from foreign by cost organization, and creates some currency driven tech our they will a our meaning natural

top of absorb us to team, impacts we that the the but couple operate continue line, the expansion you've to So in whether over of the company the or FX to will take our we consistent is to the last as they of management do story seen we profit a be headwinds that sort way line, on favorable drive margin best years. kind those

Dara Khosrowshahi

actually how me. Listen, at long -- as fast And just planning comment the of can as keep our a do you year. sometimes and just it on growth scale that I Justin, lot remind over well. one this Uber rate for I'll think investors I accelerated time bookings last year growing does, gross ask we as

is of in So terms that the this surprise runway business pleasantly a to ahead. continues us

Operator

[ next with ] from Doug JPMorgan. question is Emmis The

Unknown Analyst

I your in have AV and on following in the there's Waymo you Dara, there utilization up helping drive demand experience you're particular? two. Curious first, if commercialization with additional just how anything on just challenges. share can

in that we're And the increases just and healthier pricing sustainability costs slower you're year? 'XX, price of the about insurance talk can you given seeing insurance backdrop just those then, rides about Prashanth, how through thinking through

Dara Khosrowshahi

Absolutely.

AV, would small now. So is these thing generally, Waymo both caution us Phoenix AV Doug, with really, in the for scale of right in that I terms of and really the are deployments, first that

our perspective, L.A. For like Phoenix growth in and in QX. San versus accelerated QX Francisco,

it's the smaller are get small, and difficult numbers. really numbers just on So patterning based very to these

because Phoenix in is very pattern demand customers that that love network market. variability got any of And very, deployments of -- able we've significantly other the particular we that early versus that some of first-party of terms is the other and supply just could and utilization higher see the drive in Uber kind to the experience suggests scale Our the suggests a in and network product. the

first the rate time. an that So time offered customers second than for significantly they're the opt-in opt-in the the AV rate higher is

a product, of So see great pricing. you that in terms it's and

You can terrific. product premium at too, a the actually price which is

very are effect overall product, it's -- a great to our able have on We're business. strong drive really doesn't utilization. those really So an

are hundreds vehicles optimistic this in strong. you Atlanta. the results results for the We the will have quite going quite the we're much, Austin year more are about and of tell And we later much and now launches to big preparing there, XXs to in that to pretty going some be

Prashanth Mahendra-Rajah

Great.

on Doug, insurance. question, second The

than insurance much Mobility transportation. often is XXx a to that me passenger of is required to I'll carry liability -- than maybe Let U.S. required cases, is what up with other that a higher And modes what some required reminder can in usually the coverage is vehicle. it personal in with for coverage be business start more

So a for a being contractor we drivers that benefit provide our as Uber. part it is to of

a index, insurance pleased number, The peaked consumer easing. are in is XX% at vehicle XX% still it's only price So December. that insurance what motor now a we growing to down we the from macro in than where but it April, is saw see level, year-over-year pressure It's big in more at the low XXs.

the we been external such -- the headwinds starting with the through. all to that So peaking initiatives of and work and benefits are as innovation see also tech internal driving, policy we've coming the

couple and we outlook quarter our did So I even to have Mobility's we and high last insurance signaled is the more costs that single be likely digits confidence than U.S. have we might QX, think today in now, basis this risk that of on tech last from lower the before. a a in X per-trip about about talked XXXX, It's We've and than elements regulatory. years. management meaningfully we've seen that's coming and talked for we've

just let on of So double-click couple those. a me

things which On U.S. and more pulling like on -- ability telemetrics allows the about information all to we're of The expanding insights behavior. we to that cetera. piloting, data driving drivers them the behavior. hearing dashboard. a from it to year, were they how now and almost side, improve tech see just can driving speeding, harsh braking the score. is And what were are for phone drivers they accelerations, is their their to drive this or we're we shows of markets, driver from see more their improving last before et And our drivers were aware not their safely And

expanding mode other for get a drivers. can of safety have, our advantage the and this sort opportunities matching you are encourage of that route better But things, improvement, earnings you if driver also to And actually among we of where is use higher better score.

the of visibility giving going behavior and to out -- to use the encouraging want encouraging is play score our continue to through tech. then through economics them we the of sort So

side, On market stable. carriers terms insurance is with all the management of we've finalized essentially on and our side the pricing

So company clearly want 'XX that view and to the get when insurance we we've pricing negotiations. being got into us And to a give as we is. self-insure able a those we better great look where to of don't leverage offer in captive much continues having

And the creating to then New little it's lastly, in progress a California, And work state-by-state more starting probably news regulatory see reform. on. Jersey in were the to markets are insurance cycle you a but in we're like need we areas attention Georgia, the respective out more get On a going bit for us with that where bit basis, longer come. on

Dara Khosrowshahi

Mobility to my just comment And That just in Mobility in of clarify not QX one our The of AV. was QX growth and overall L.A. those San Phoenix growth all Francisco, accelerated, Mobility. made for earlier over comments. I business, that in markets actually

Operator

from is Moffett Nathanson. Morton Michael question The with next

Michael Morton

on agency follow about in comment AV. talk OEMs, on a a you -- just new general business securing appreciate from on the If l When remarks could question earlier AVs. up potential the you're could term models models you directly? I renting I about buying cars when over business supply And for versus talk are with about made an merchant AVs with AVs, speaking you today? model of model about then Uber long thinking a

a investors by do in addressable much to is, global we due vehicles see AV certain costs compared driver of business costs? being different then you question the markets autonomous how get Mobility your And from to

Dara Khosrowshahi

Yes, absolutely, Michael.

going -- experimentation business a be models. there I are terms to of model, think of in ton there's be the going around the So to business

we've I on, a cars. think we early buy got big can and balance sheet

see third the that are finance A to to from et partners able cars electric vehicles. fleet of going have I parties EVs, cetera. actually and getting into financing essentially think we fleet partners now turn eventually, these our right it's with that lot buying you

days, construct residual for going place in financing kind clarity early values and to you're a regarding what not of the In have are these cars.

I So up sheet risk. some put will balance that think

fleet some time. up a over balance period of put sheet risk Our will partners

be the fleet I think will that of most a ownership partners. combination of

players, entities well. infrastructure of just kind players, fleet are that kind -- REITs own financial some entities like have you will of there see as might You hotels, they

And and businesses we the be care cars well. operating individual people, of these kind ourselves SMB world and then an fleets taking well of again, small hopefully, see there'll fleets that, business of putting some up sort ownership model small around for as car, of fleet these as the

going to on, think be -- of a in ton take we there's the early will be industry, balance going all speak. financialized. to sheet order to But So But of catalyze some so to ultimately, risk experimentation. is get it we

of AV, think things I the market. In terms of a of in terms couple addressable

First all, of cost right drivers. even think to on now, don't early come of -- the AVs close cost the of I

So the are of first complicated. environment again, regulatory is regulation markets going depend on think are first going all. to pretty the And penetrated I that to be

kind to very, tend And deployments expand. per European for or where AV mile these second center in the be revenue the over would is many very markets revenue domain cities. period of tend this to of is limited. is markets of time is per will be markets, higher the And operational The mile the to and a U.S. of in going

expand the over of is in market in is XX% or to think So years a so. XX the gradually marketplace to probably be of going to overall the and period time addressable the X then going XX% I order next next years, of the over

Operator

from Nikhil the line Bernstein. Your final of question with Devani come will

Nikhil Devnani

letter the it's starting price And time and QX you today, growth. suggests talks last profit that EBITDA moderate to about about affordability. the guide Dara, elasticity, talked

the was years. FX? of take And bigger First, guide ceiling. EBITDA hitting now for a that this be for would how picture, impacted then the I much guess, by that business several skeptical We're pricing is tailwind

on it's affordability, to margins you going as headwind going to push forward. a more be And

view, eventually you the consumers. do that leverage not So good and take? proposition a drive in How these why right return leaning your lower-cost into business mobility on in is rides the value you're if that get for operating

Prashanth Mahendra-Rajah

take longer I've side philosophy Dara on the through the jurisdictions our foreign less. we FX business profits why the than Yes. when the I and part bit of our and back first there. went they impact half come outside Nikhil, of don't exchange a an that it FX. U.S., foreign on part of take U.S. mentioned little -- there. and with Clearly, those impact let it more just to is in the the the are And collect there of worth I

on that volatility investors. not have to chosen We pass to

whether find levers to bad ways the news, have. company the within that, it good or using manage news be We we that

of in the sort that prepared And of that's the about been the remarks. We company. talked philosophy

the So should impact. what management modeling the purposes, line your in a on for of team improvement to it weighs days FX. leave FX top steady certainly it business. both you days a bad we is as and of margin impact It do and to not to regardless think good show But zero can

Dara Khosrowshahi

tailwind of of the in insurance. say been of pricing headwind, of it's pricing, And has have say pass-along a the whether Yes. majority vast has that would I that the Nikhil, U.S. we majority vast terms price or cost in market just I'd increase a the been taken that in

bookings, model gross part build premium a And products. we in It where believed out of of shows ultimately kind up in We've neutral. that increase it price up in So shows economically always the is costs.

using process this X-wheelers. and is Black premium our et fund lower-cost So product, X-wheelers, UforB and We UberX cetera, as products to a well highly products UforB. reserve is of Shuttle, the margin for premium introduced taxi, Business which like the well higher the Share as

to I that I growth. the and would of growth XX% high XXs top consistently been in in X-year the And in and we've today, mid- line our to that expectation line tell forward. teens to And past bottom terms line to growth of the a talked and think guidance ability able you balance then bottom about going top we demonstrate line

ever think more environment. for continue forward. guideline meet pricing than that both confident it kind line. And any are run see bottom us almost way to the top in we can we you'll But going and run deliver that both the company is We of those to of on that I

Prashanth Mahendra-Rajah

Thanks, Nikhil.

her some share to nearly last us. years, Deepa wrap news. action-packed Uber. Today we day to be with Before X I here, to After has leave decided is going up wanted

the Uber behalf best financial her Deepa the challenge. the wish and on want next in and Dara, contributions I her of many to for So her team all do leadership thank global work, to

in to you well, of know addition role many to IR who Krishnamurthy, team. managing his is going lead in to Balaji step finance strategic existing the

call along you this and back morning, Alex joining the IR be QX for with will the apology team. So

quarter, York, This and Boston. in Orlando New be to we Francisco, going are San Chicago,

work the to please this And cities. team Alex thank in out morning. want reach close, to looking Uber great those So of team just to you their the I if you're of and IR for XXXX, all joining us for in to see us then thank any

Operator

This you concludes today's Thank for conference joining. call.

You disconnect. may now

Uber (UBER) 5 Feb 252024 Q4 Earnings call transcript