Uber Technologies, Inc.

Ladies and gentlemen, thank you for standing by. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to the Uber third quarter 2022 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question at that time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, Again, press star one. Thank you. It is now my pleasure to turn today's conference over to Mr. Balaji Krishnamurti. Sir, please go ahead.

Thank you, operator. Thank you for joining us today and welcome to Uber's third quarter 2022 earnings presentation. On the call today, we have Uber CEO Dara Khosrowshahi and CFO Nelson Che. 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. As a reminder, these numbers are unaudited and may be subject to change. Certain statements in this presentation and on this call are forward-looking statements. Such statements can be identified by terms such as believe, expect, intend, and may, 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 risks and uncertainties described in our most recent annual report on Form 10-K for the year ended December 31, 2021, and in other filings made with the SEC when available. We published our 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.

Thanks, Balaji. Uber delivered yet another strong quarter with gross bookings of 32% year-on-year, EBITDA of $516 million, an all-time high and well above our guidance range, and solid free cash flow of $358 million. Despite the uncertain global economic environment and considerable foreign exchange headwinds, we again issued Q4 EBITDA guidance that shows strong incremental progression and remain confident in our ability to deliver healthy top and bottom line growth with strong free cash flow generation. Underlying this performance are several trends that represent tailwinds for us. Cities are reopening, travel is booming, and more broadly, a continued shift of consumer spending from retail back to services. We've seen these trends continue into the fourth quarter, with October tracking to be our best month ever for mobility and total company gross bookings. With over $1 billion in adjusted EBITDA, $693 million in free cash flow so far this year, we've demonstrated how our global scale and unique advantages of our platform are combining to generate meaningful profits, and we're confident in our ability to build on this momentum.