(News Bulletin 247) – Uber Technologies on Tuesday announced quarterly cash flow well above market estimates and said it expected further improvement in profitability in the second quarter.
The American technology group says it has generated a record free cash flow (‘free cash flow’) of 549 million dollars over the first three months of the year, compared with a cash burn of 47 million dollars a year earlier. early.
Gross bookings, the figure representing the total value of bookings processed on its platforms, rose 19% to $31.4 billion.
Sales of the Mobility branch, namely the VTC activity, climbed 40% to 15 billion dollars while those of the meal delivery division rose 8% to 15 billion.
The San Francisco company also saw its adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) more than triple to $761 million from $168 million a year earlier.
For its second quarter, the group says it expects an adjusted Ebitda of between 800 and 850 million dollars, well above the average forecast of analysts, established at 750 million dollars.
‘After a year of transition in terms of growth and cost reductions, Uber has finally reached an inflection point in terms of growth, cash and EBITDA, as Wall Street dreamed of a few years ago’ , comments Dan Ives, analyst at Wedbush Securities.
The title Uber, which has already regained more than 32% of its value this year, climbed around 8% on Tuesday morning in pre-market trading.
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