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Uber losses in Q3 exceed Wall Street targets, turnover strikes



Uber reported Monday on mixed economies in the third quarter that sent the stock sinking after hours.

Here are the key figures:

  • Earnings : $ -0.68 per share versus expected -0.63 per share
  • Revenue : $ 3.8 billion against expected 3.4 billion
  • Net income : $ 1.1 billion, in line with expectations
  • Total ride : 1.7 billion
  • Active riders : 103 million

  Uber stock price earnings in the third quarter




Markets Insider



Shares of Uber, which has struggled since the company's stock exchange listing in May, dropped as much as 6% in afternoon trading, according to the report.

Gross bookings, an important industry measure for total rider revenue before certain expenses as paying drivers, grew by 29% over the same period last year to $ 3.7 billion. However, total net income grew to $ 1.1 billion, or 18% more than in the same period in 2018.

"Our results this quarter show decisively the growing profitability of our Rides segment," CEO Dara Khosrowshahi said in a press release .

"We are pleased to see the impact that continued category leadership, greater financial discipline and an industry-based shift toward healthier growth already have our financial results."

Revenue from Uber Eats, one of the company's fastest-growing segments, rose to $ 392 million in the quarter, up 105% year-over-year. Uber Freight, which is rapidly scaling in both the United States and Canada, now includes more than 50,000 carriers, the company said. This is the first time Uber has broken shipping.

Here is the breakdown of income by segment:

 Uber revenue by segment




Uber



Uber's third-quarter report follows Lift's last week, in which the smaller competitor topped Wall Street estimates, but only to receive a lukewarm response from investors.


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