Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Common-Size Income Statement
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2019
- Total Asset Turnover since 2019
- Price to Operating Profit (P/OP) since 2019
- Price to Book Value (P/BV) since 2019
- Analysis of Revenues
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Uber Technologies Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue Trends
- Revenue displays a consistent upward trajectory from March 31, 2020, starting at $3,248 million, reaching a peak of $11,959 million by December 31, 2024, before experiencing a slight decrease to $11,533 million in the most recent quarter, March 31, 2025. This indicates strong growth over the five-year span with a minor recent contraction.
- Cost of Revenue (Excluding Depreciation and Amortization)
- Costs associated with revenue increased substantially over the period. Starting at -$1,491 million in early 2020, costs rose to a maximum of -$7,234 million by December 31, 2024, then slightly declined to -$6,937 million in March 2025. The growth in cost has been generally proportional to revenue growth, reflecting expanding operations and possibly increased input prices or scale effects.
- Gross Profit Analysis
- Gross profit followed an overall increasing trend, starting at $1,757 million in early 2020 and peaking near $4,725 million by March 31, 2025. Despite some fluctuations, gross profit growth was moderate compared to revenue, highlighting pressure on gross margins potentially due to rising costs of revenue.
- Operations and Support Expenses
- Operations and support costs remained relatively stable with a slight upward trend, moving from -$503 million in March 2020 to around -$668 million in March 2025. This moderate increase suggests some operational scaling while controlling cost increases in relation to revenue expansion.
- Sales and Marketing Expenses
- Sales and marketing expenses showed variability but generally remained elevated, fluctuating between approximately -$940 million to -$1,262 million over various quarters. Notably, there was a decline towards late 2023 and early 2024 followed by an uptick in late 2024, potentially reflecting strategic shifts in marketing investment intensity.
- Research and Development Expenses
- R&D expenses remain fairly consistent throughout the period, ranging between -$485 million and -$815 million. This steadiness signals continuous investment in innovation and development efforts, with minor increases aligning with company growth initiatives.
- General and Administrative Expenses
- General and administrative expenses were somewhat volatile, with significant spikes such as -$1,209 million in March 2024 and notable decreases like -$491 million in mid-2023. These fluctuations might be linked to changes in overhead management, restructuring costs, or other administrative factors.
- Depreciation and Amortization
- Depreciation and amortization expenses remained relatively stable, generally between -$128 million and -$246 million, with a slight declining trend in recent quarters, indicating possible changes in capital asset base or amortization schedules.
- Income (Loss) from Operations
- Operating income started with substantial losses in 2020 exceeding -$1,200 million but gradually improved to positive territory by late 2023, reaching a peak of $1,228 million by March 31, 2025. This transition signifies improved operational efficiency and profitability.
- Interest Expense
- Interest expenses fluctuated mildly around the range of -$105 million to -$168 million, showing no major trend but reflecting consistent financing costs over time.
- Other Income (Expense), Net
- This category exhibited extreme fluctuations, ranging from significant negative figures such as -$5,557 million in March 2022 to large positive amounts over $1,800 million. These volatile swings suggest irregular non-operating income or expenses, likely related to one-time events, investments, asset sales, or impairments affecting net income substantially in some quarters.
- Income (Loss) Before Income Taxes and Equity Method Investments
- There is a wide variability in pre-tax income, showing large losses in certain quarters, for instance -$6,168 million in March 2022, offset by significant positive results such as $2,769 million in September 2024. The volatility primarily corresponds to fluctuations in other income and operating income performance.
- Provision for Income Taxes
- The provision for income taxes varied between negative and positive amounts, with extraordinary benefit spikes, notably reaching $6,002 million in March 2025. These shifts suggest variable tax impacts possibly from deferred tax assets, tax credits, or adjustments related to income fluctuations.
- Income (Loss) from Equity Method Investments
- This item remained relatively minor and stable, with values generally close to zero, indicating a marginal impact on overall profitability from equity investments.
- Net Income (Loss) Including Non-Controlling Interests
- Net income showed considerable volatility, moving from large losses in 2020 and early 2022 (e.g., -$5,918 million in March 2022) to strong positive net income in late 2024 and early 2025 quarters (e.g., $6,901 million in March 2025). This turnaround indicates a significant improvement in overall profitability influenced by operational gains and other income fluctuations.
- Net Income (Loss) Attributable to Uber Technologies, Inc.
- The net income attributable to the parent company mirrored the total net income trends with severe losses followed by marked recovery and profitability by 2025, signaling successful operational strategies and financial management improving shareholder returns.