Uber Technologies, Inc. 실적 발표

… some kind of feedback from our users, well, the reliability of Uber is awesome, but if I absolutely knew that the driver was gonna show up 15 minutes early, et cetera, it could reduce some of the stress as it related to travel. And of course, it was a great opportunity for us to continue to increase travel bookings. And we've consistently seen our Uber Reserve service growth rates continue to grow well in excess of the mainline business. And as you know, the mainline business is growing at healthy rates as well. The margins on Uber Reserve are higher. Customer satisfaction is very, very strong. And now we're developing the reserve service not just as a service for people to go to airports, but people to get picked up when they land in airports as well. The experience with reserve for us demonstrated our ability to go from on demand to planned services, so to speak. Travel is a very, very natural category for us to get into. Airports are about 15% of our mobility gross bookings and 40% of, for example, our U.S. riders take trips outside of their home city. And globally, just last year, we had over 1.5 billion trips happening outside one of our users home cities. So when you put that together, which is proving ourselves with reserve, you know, moving from on demand to kind of planning ahead. And then the incredible audience and efficacy we have with a travel consumer hotels was, of course, a very, very natural expansion for us. We're very happy to have a relationship with Expedia. Their inventory is second to none. So now we've got 700,000 hotels available on Uber as we speak. And we've taken most of the economics of that deal and we are giving it back to our Uber One members. Uber One members get 10% Uber credits. There's a rolling list of 10,000 hotels where you get another 20% off as well. So really the focus for us is drive that cross-platform activity, give a bunch of money back to Uber One members. And obviously you've seen kind of the momentum that we've had with Uber One with over 50 million members growing 50%. The retention rates are higher. They spend three times more. It's a unique advantage that we have over our competition. We're very much looking forward to the product. We're really happy that the team put it together and happy about our partnership. Only we're hoping hotels can be just as big as reserve. Apology, you want to talk insurance?

Yeah, and as far as the Santander deal, it's something that we're very, very excited about. I think to step back for a second, in order for AV to scale and get into the hundreds of millions in terms of trip count, we really have to build out a whole ecosystem around the development of these AV drivers, and that ecosystem includes fleet management, it includes depots and charging and repair and cleaning. It includes financing. It includes insurance as well. And we're investing in that entire ecosystem. You know, we talked about a new relationship that we're building with Hertz on the fleet management side. We have teams going out and securing depots and markets that we think are ready from a regulatory standpoint as well now. And we have been doing so to some extent and working with these fleets for some period of time as an increasing percentage of our drivers had moved from combustion vehicles to EVs as well. So these are muscles that we've built for some period of time. Financing and building out kind of financing for AVs is to some extent trickier because the residual value of these AVs is not something that is clear, right? There's a residual value for cars and used cars. There are very liquid markets for them. That is not true of AVs at this point, although it will be true. And for us, the advantage that we have is that AVs on our network have a very predictable use in terms of revenues or trips per vehicle per day, which are at a premium to kind of 1P type networks. And as a result, revenue per vehicle per day And that kind of creates the circumstances where we think you can build a very, very healthy financing ecosystem. So we can build AV, but we can also build a capital light, essentially. We're really happy to work with Santander as it's been incredibly innovative in this field on a global basis. And then, you know, on insurance, for example, we talked about a relationship with Marsh and Apollo as well to build out insurance. And we think actually AV insurance is going to be cheaper than human insurance because ADs ultimately will be safer as well. So we're investing in the whole ecosystem, very happy with the Sanford-Dare relationship, and we're looking forward to building from there. Next question, please.

Yeah, and as far as the Santander deal, it's something that we're very, very excited about. I think to step back for a second, in order for AV to scale and get into the hundreds of millions in terms of trip count, we really have to build out a whole ecosystem around the development of these AV drivers, and that ecosystem includes fleet management, it includes depots and charging and repair and cleaning. It includes financing. It includes insurance as well. And we're investing in that entire ecosystem. You know, we talked about a new relationship that we're building with Hertz on the fleet management side. We have teams going out and securing depots and markets that we think are ready from a regulatory standpoint as well now. And we have been doing so to some extent and working with these fleets for some period of time as an increasing percentage of our drivers had moved from combustion vehicles to EVs as well. So these are muscles that we've built for some period of time. Financing and building out kind of financing for AVs is to some extent trickier because the residual value of these AVs is not something that is clear, right? There's a residual value for cars and used cars. There are very liquid markets for them. That is not true of AVs at this point, although it will be true. And for us, the advantage that we have is that AVs on our network have a very predictable use in terms of revenues or trips per vehicle per day, which are at a premium to kind of 1P type networks. And as a result, revenue per vehicle per day And that kind of creates the circumstances where we think you can build a very, very healthy financing ecosystem. So we can build AV, but we can also build a capital light, essentially. We're really happy to work with Santander as it's been incredibly innovative in this field on a global basis. And then, you know, on insurance, for example, we talked about a relationship with Marsh and Apollo as well to build out insurance. And we think actually AV insurance is going to be cheaper than human insurance because ADs ultimately will be safer as well. So we're investing in the whole ecosystem, very happy with the Sanford-Dare relationship, and we're looking forward to building from there. Next question, please.

… deep engagement that they have with us. First thing I'd say is we are investing in these agents and we are investing in these AI tools. and we're seeing kind of the interaction directly with our agents be the first use case. That's a magical use case. And I talked about this early in the call, like three quarters of the time, for example, the mobility, we're guessing we can anticipate where you're going to go. So it's just kind of a one push button. You know, our agent knows, hey, biology, time to go home, right, for you. And those are kind of unique benefits that we bring. At the same time, we are working and talking to many of these third-party agents um we have a great market position so we're able to kind of often dictate the the terms of trade in those in those discussions um i think you'll know that i came from the travel industry many many years ago and there were fears for example in travel in terms of meta search and this layer above the travel companies and as a travel business consolidated with an expedia or booking an airbnb which are incredible companies most of the value of those front ends accrued to the large players, the consolidated players, Expedia, the Airbnbs and the booking.com. So we've kind of seen this movie before. As long as we are building terrific core products, we think we will get more than our fair share of consumers coming direct to our services. We will build in APIs to whether it's an Apple or an OpenAI or a quad or know Gemini we will work with these agents as well but I think we'll continue to see um that the majority of our transactions come direct uh we saw the same theme play out in meta search I don't know if folks remember but at one point uh even google maps had kind of comparison shopping between uber and lyft and it wasn't the same experience as coming direct to the app so we're very confident that you know AI is going to empower entirely new experiences But we think the majority of those experiences are going to come direct to us. All right. So I think that's it. Thank you very much for joining the call. Huge thank you to the Uber teams who delivered another terrific quarter for us. And another thank you to our partners, whether it's our earners, couriers, drivers, and also merchants. who make this all possible. Thank you very much for joining and look forward to talking to you in the next couple of quarters.

We continue to believe ABs are huge opportunities for the entire industry. This is, you know, we think another trillion dollars am. And we don't see this as being a winner-take-all market. We certainly see Waymo moving very quickly, as we are moving very quickly. And I'll remind you, we expect to be in 15 markets by year-end, and then significantly more than that going into next year with you know, partners like Neuro, like Nvidia, like Zoops as well. So we're very, very happy about what's going on there. You know, our mobility business accelerated versus last quarter. Our U.S. mobility business actually accelerated more than the overall business. And we talked about the anticipation that U.S. mobility is going to continue to accelerate for the balance of the year. So at this point, we don't see any effect. of the Waymo launches on our overall business. And we continue to see Waymo kind of the performance of our businesses with Waymo in Austin, Atlanta continue to be strong. Driver earnings are up. More drivers are joining those platforms as well. And then if you look at kind of markets where Waymo has been launching, has been around for some period of time, San Francisco and L.A., for example, our category position, both in San Francisco and L.A., is higher today than it was six months ago. So this is an overall business that is of scale, the overall mobility business. We continue to see very, very healthy trends, and we don't see any signs of that abating at this point. And, of course, we continue to invest in AV aggressively with our partnership model. And then I think, listen, why are we having success in signing up partners? I think it's self-evident, which is we've got demand. We have shown that the utilization of these cars, which are very, very expensive on our platform, is higher. And then we're also very excited to talk about Uber with the launch of Uber Autonomous Solutions, which helps our AV partners focus on kind of building the driver, and we can build everything else around them, whether that's fleet management, helping them with data collect, et cetera. So we think we're very early in this year, and we're very excited about the AV trends that we're seeing. Next question, please.

Yeah, and as far as the Santander deal, it's something that we're very, very excited about. I think to step back for a second, in order for AV to scale and get into the hundreds of millions in terms of trip count, we really have to build out a whole ecosystem around the development of these AV drivers, and that ecosystem includes fleet management, it includes depots and charging and repair and cleaning. It includes financing. It includes insurance as well. And we're investing in that entire ecosystem. You know, we talked about a new relationship that we're building with Hertz on the fleet management side. We have teams going out and securing depots and markets that we think are ready from a regulatory standpoint as well now. And we have been doing so to some extent and working with these fleets for some period of time as an increasing percentage of our drivers had moved from combustion vehicles to EVs as well. So these are muscles that we've built for some period of time. Financing and building out kind of financing for AVs is to some extent trickier because the residual value of these AVs is not something that is clear, right? There's a residual value for cars and used cars. There are very liquid markets for them. That is not true of AVs at this point, although it will be true. And for us, the advantage that we have is that AVs on our network have a very predictable use in terms of revenues or trips per vehicle per day, which are at a premium to kind of 1P type networks. And as a result, revenue per vehicle per day And that kind of creates the circumstances where we think you can build a very, very healthy financing ecosystem. So we can build AV, but we can also build a capital light, essentially. We're really happy to work with Santander as it's been incredibly innovative in this field on a global basis. And then, you know, on insurance, for example, we talked about a relationship with Marsh and Apollo as well to build out insurance. And we think actually AV insurance is going to be cheaper than human insurance because ADs ultimately will be safer as well. So we're investing in the whole ecosystem, very happy with the Sanford-Dare relationship, and we're looking forward to building from there. Next question, please.