Uber managed to score another record quarter. The group boasts strong growth in bookings: over 2 billion trips in the last quarter and 27 million trips per day, up 25% on last year. Overall net income amounted to $200 million.

The carrier has made an accounting adjustment to revenues, and now classifies marketing costs and customer incentives as operating costs.

Rising demand

In the mobility segment, gross bookings were up 30% year-on-year. Growth was particularly strong in the Asia-Pacific and Latin America regions, boosted by the introduction of new products such as two-wheeled Uber cabs.

In the delivery segment, gross bookings rose by 16%, compared with 14% in the second quarter. The group points out that it has gained market share in 9 of the world's top 10 markets in this activity.

Lastly, the grocery offer (food, alcohol, pet food) also posted significant growth.

Growing advertising business

Thanks to data collected from customers, the Group has developed an advertising offer aimed at restaurants wishing to identify new consumers. This is aimed primarily at small franchises such as McDonald's and Wendy's.

It has also deployed a brand advertising segment, dedicated to major advertisers: tech giants, credit card operators and film studios.

With the number of advertisers up 70% year-on-year, the group is aiming for $1 billion in advertising revenues next year, and already claims to be on track to exceed this target.

Freight and application: ambitious targets

Management has set ambitious goals: to make Uber an operating system for everyday life within 5 years. An application to serve urban dwellers, to manage everyday tasks, from meals to shopping and commuting, and to save users time.

Asked about the Uber Freight unit, down 27% year-on-year, the CEO assures us that freight remains a promising segment for the group. While headwinds have driven some players out of business, the group looks favorably on industry consolidation.

Uber is banking on technology to establish itself as a major player in the freight sector. In addition to transportation, the group wants to use AI to offer solutions for managing shipping networks.

 

Read the full interview with Uber CEO Dara Khosrowshahi here: