Uber Technologies Inc. (NYSE:UBER) Q2 2024 Earnings Conference Call August 6, 2024 8:00 AM ET

Company Participants

Dara Khosrowshahi - Chief Executive Officer
Prashanth Mahendra-Rajah - Chief Financial Officer
Deepa Subramanian - Vice President, Investor Relations

Conference Call Participants

Brian Nowak - Morgan Stanley
Doug Anmuth - JP Morgan
Eric Sheridan - Goldman Sachs
Justin Post - Bank of America
Nikhil Devnani - Bernstein
John Colatuoni - Jefferies
Ross Sandler - Barclays
Mark Mahaney - Evercore

Operator

Thank you and welcome to the Uber Q2 2024 earnings conference call.

All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question and answer session. If you would like to ask a question during this time, please press star, one on your telephone keypad.

I would now like to turn the conference over to Deepa Subramanian, Vice President, Investor Relations and Corporate Finance. Please go ahead.

Deepa Subramanian

Thank you Operator. Thank you for joining us today, and welcome to Uber’s second quarter 2024 earnings presentation. On the call today, we have Uber CEO, Dara Khosrowshahi, and CFO Prashanth Mahendra-Rajah.

During today’s call, we will present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures are included in the press release, supplemental slides, and our filings with the SEC, each of which is posted to investor.uber.com.

Certain statements in this presentation and on this call are forward-looking statements. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements and we do not undertake any obligation to update any forward-looking statements we make today, except as required by law. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today, as well as the risks and uncertainties described in our most recent Form 10-K and in other filings made with the SEC. We published a quarterly earnings press release, prepared remarks, and supplemental slides to our Investor Relations website earlier today and we ask you to review those documents, if you haven’t already.

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

With that, let me hand it over to Dara.

Dara Khosrowshahi

Thanks Deepa. Q2 was another record quarter for Uber and further demonstrated our ability to deliver profitable growth at scale. Gross bookings grew 21% on a constant currency basis, consistent with trip growth. Our audience expanded 14% while frequency grew 6%, supported by 7.4 million drivers and couriers globally. At the same time, adjusted EBITDA grew 71% year-on-year and we generated record quarterly GAAP operating income.