Uber Technologies, Inc. (NYSE: UBER) released on Wednesday its fourth quarter and full-year 2021 financial results. The company posted US$17.46 billion in annual revenue, an increase from 2020’s revenue of US$11.14 billion.
This came from a total of gross bookings for the year of US$90.42 billion from 6.37 billion trips, up from last year’s US$57.90 billion from 5.03 billion trips.
However, with total costs of revenue and expenses higher than the revenue, the firm ended with an operating loss of US$3.83 billion compared to last year’s loss of US$4.86 billion.
This led to notching an annual net loss of US$496 million compared to a net loss of US$6.77 billion in the previous year. Calibrating for financial items including a US$1.17 billion stock-based compensation expense, adjusted EBITDA for the year came in at a loss of US$774 million, up from last year’s loss of US$2.53 billion.
For Q4 2021, the company had total gross bookings of US$25.87 billion leading to quarterly revenue of US$5.78 billion. These compare to Q3 2021’s US$17.15 billion gross bookings and US$3.17 billion revenue.
But still with costs and expenses higher than quarterly revenue, the firm ended with a quarterly operating loss of US$550 million compared to an operating loss of US$877 million for the same comparable period last year.
Due to a US$1.4 billion net pre-tax benefit relating to equity investments, the firm ended the quarter with US$892 million net income, up from a net loss of US$968 million last year. The quarterly net income translates to US$0.44 per diluted share.
Considering the net benefit and a US$334 million stock-based compensation expense during the quarter, adjusted EBITDA for Q4 2021 ended at US$86 million coming from a loss of US$454 million in the year-ago period.
The company also ended the year with US$4.30 billion in cash and cash equivalents, bringing the balance of current assets to US$8.82 billion. Current liabilities ended at US$9.02 billion.
The mobility firm expects in Q1 2022 to have total gross bookings of US$25 – US$26 billion and adjusted EBITDA of US$100 – US$130 million.
Uber last traded at US$40.19 on the NYSE.
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