Uber Technologies, Inc.

At that time, simply press star followed by the number one on your telephone keypad. And if you would like to withdraw your question, again, press star one. We ask that you limit yourself to one question and one follow-up and then re-queue for any additional questions. Thank you. I would now like to turn the conference over to Alex Wong, Head of Investor Relations. Alex, you may begin your conference.

Thank you, Krista. Thank you for joining us today, and welcome to Uber's fourth quarter and full year 2023 earnings presentation. On the call today, we have Uber's CEO, Dara Khashashahi, and CFO, Prashant Mahendra Raja. During today's call, we'll 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 risks and uncertainties described in our most recent Form 10-K and other filings made with the SEC. 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 open the call to questions following brief opening remarks from Dara and Prashanth. With that, let me hand it over to Dara.

Thanks, Alex. Q4 was a standout quarter to cap off a standout year. Trip growth of 24% year-on-year outpaced gross bookings growth for the fourth quarter in a row. powered by strong audience trends and record engagement as consumer activity remained healthy all around the world. At the same time, adjusted EBITDA of $1.3 billion exceeded our Q4 outlook with gap operating income of $652 million. Looking back, 2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale. These results in our Q1 outlook demonstrate that we're starting 2024 with tremendous momentum and reliable execution. I'm energized by the pace of innovation I'm seeing across the company, and I'm looking forward to another exciting year ahead. And now, here's Prashant.