Uber is a technology platform that uses a global network, leading technology, operational excellence and product expertise to power movement from point A to point B. The company develops and operates proprietary technology applications supporting a variety of offerings on our platform. Uber connects consumers with independent providers of ride services, restaurants and food delivery services, public transportation networks, e-bikes, e-scooters and other personal mobility options.
Uber Technologies, Inc. (NYSE: UBER) reported financial results for the fourth quarter and full year ended December 31st, 2019. Gross Bookings increased to USD 4 Billion year over year to USD 18.1 Billion, a 28% year over year growth. Revenue increased 37% year over year. Adjusted EBITDA amounted to USD 461 Million due to increased investments in key market segments.
“2019 was a transformational year for Uber and I’m gratified by our progress, steadily delivering against the commitments we’ve made to our shareholders on our path to profitability,” said Dara Khosrowshahi, CEO. “We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform.”
“Our revenue growth continued to accelerate in Q4, with adjusted net revenue up 43% year-over-year in constant currency,” said Nelson Chai, CFO. “We consistently outperformed our adjusted EBITDA targets in 2019, including in the fourth quarter. Our focus on disciplined capital allocation is part and parcel to achieving our financial goals, and the recent sale of our India Eats business further demonstrates that commitment.”