Which expense category impacted Uber's profits most in 2024?

**Equity Revaluations and Autonomous Vehicle Partnerships Impacted Uber's Profits Most in 2024**

1. **Equity Revaluations**: Uber's 2024 financial results were significantly boosted by a $1.7 billion benefit from equity revaluations, which contributed to the company's record profitability in Q3 2024. This indicates that the valuation of Uber's equity investments appreciated substantially, positively impacting its net income and earnings per share (EPS).
2. **Autonomous Vehicle Partnerships**: Uber's strategic partnerships with OEMs (Original Equipment Manufacturers) for the development of seventh-generation robotaxi fleets are crucial for its autonomous mobility plans. These partnerships likely involved significant upfront costs for technology development and licensing, which, though decreasing slightly from 2023, still represented a substantial expense in 2024.
3. **Regulatory and Competitive Pressures**: While not directly an expense category, regulatory hurdles and competitive pressures in the ride-hailing and food delivery markets have been notable challenges for Uber. These factors could indirectly impact profitability by influencing operational costs and market positioning.
4. **Cost Management and Efficiency Gains**: Uber's effective cost management and platform synergies have been key to its financial performance. Adjusted EBITDA soared by 71% to $1.57 billion, highlighting efficient expense control. Gross bookings rose by 16% to $41 billion, and net income increased significantly, showing strong revenue growth despite competitive pressures.

In conclusion, equity revaluations and autonomous vehicle partnerships were the primary drivers impacting Uber's profits most in 2024, with cost management and competitive positioning playing significant supporting roles.