The following is a summary of the Uber Technologies, Inc. (UBER) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Uber reported a growth of 21% YoY in trips, reflected similarly in gross bookings growth for Q1 2024.

• The company recorded an adjusted EBITDA of $1.4 billion, representing an 82% YoY increase.

• Uber generated a free cash flow of $4.2 billion in the trailing 12 months.

• The company projects over 20% YoY growth on a constant currency basis for Q2 2024.

• Uber's new products contributed to over 20% of its new customer base, reflecting an 80% YoY growth.

• Delivery EBITDA margins were increased by around 20% sequentially despite robust business growth.

• Uber reached a $900 million run rate for advertising in Q4 of 2023.

Business Progress:

• Uber experienced the best week in terms of gross bookings signalling strong demand for the service.

• Driver and courier numbers on the platform have increased to 7.1 million, reflecting successful expansion initiatives.

• Uber One membership fees hit revenue run rate of over $1 billion, indicating high uptake and spending by members.

• The company is strategically focusing on delivery for suburban markets where it usually records higher growth rates.

• A 12% YoY increase in active merchants was recorded, offering wider selection and quality to consumers, thereby increasing retention and frequency.

• 15% growth in monthly actives on Eats through the Grocery division has opened up potential for high-margin advertising partnerships with top CPG brands.

• Despite looming regulations in key markets like Seattle and New York, Uber remains confident of maintaining profitability.

More details: Uber Technologies IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.