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- Breaking News: Technology, business news, Dara Khosrowshahi, Enterprise, Internet, Technology, Uber Technologies Inc
Uber CEO Dara Khosrowshahi addresses the viewers throughout the keynote at the beginning an Uber merchandise launch in San Francisco, California on September 26, 2019.
Philip Pacheco | Afp | Getty Images
Here’s how the corporate did:
- Earnings per share: 18 cents vs. 1 cent loss anticipated by analysts, in response to Refinitiv.
- Revenue: $9.23 billion vs. $9.33 billion anticipated by analysts, in response to Refinitiv.
Revenue for the quarter was up 14% from the identical quarter final 12 months.
Uber reported a internet earnings of $394 million, or 18 cents per share, in comparison with a internet lack of $2.6 billion, or $1.33 per share, in the identical quarter last year.
In a prepared statement, CEO Dara Khosrowshahi stated the corporate achieved two main milestones throughout the quarter: its first quarter of free money stream over $1 billion and its first GAAP operating revenue.
“Both of those milestones had been achieved by a mixture of disciplined execution, file viewers and robust engagement,” Khosrowshahi stated.
The firm reported adjusted EBITDA of $916 million, up 152% 12 months over 12 months. Gross bookings for the quarter got here in at $33.6 billion, up 16% 12 months over 12 months.
For the third quarter of 2023, Uber stated it expects to report gross bookings between $34 billion to $35 billion and an adjusted EBITDA of $975 million to $1.025 billion, each forward of analysts’ expectations, in response to StreetAccount.
Here’s how Uber’s largest enterprise segments carried out:
Mobility (gross bookings): $16.73 billion, up 25% year-over-year
Delivery (gross bookings): $15.60 billion, up 12% year-over-year
Uber’s mobility section reported $4.89 billion in revenue, in contrast with supply’s $3.06 billion. Its freight enterprise booked $1.28 billion in gross sales for the quarter, down from the $1.83 billion it reported for a similar quarter last year.
The variety of Uber’s month-to-month lively platform shoppers reached 137 million within the second quarter, up 12% 12 months over 12 months. There had been 2.3 billion journeys accomplished on the platform throughout the interval, up 22% 12 months over 12 months.
Uber will maintain its quarterly name with buyers at 8:00 a.m. ET Tuesday.