Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco on September 26, 2019.
Philippe Pacheco | AFP via Getty Images
Uber Third-quarter results reported Thursday beat Wall Street revenue expectations but missed analysts’ forecasts for gross bookings.
The company’s shares fell more than 5% before the market opened on Thursday.
Here’s what the company does:
- Earnings per share: $1.20. This may not compare to the 41 cents expected by LSEG.
- income: US$11.19 billion, compared with US$10.98 billion expected by LSEG
Uber’s third-quarter revenue grew 20% from $9.3 billion in the same period last year. company report Total bookings for the period were $40.97 billion, below analysts’ expectations of $41.25 billion, according to StreetAccount.
The company reported net income of $2.6 billion, or $1.20 a share, up from $221 million, or 10 cents a share, a year earlier. Uber said its net profit included a $1.7 billion pretax gain from unrealized gains related to the revaluation of equity investments.
Uber reported adjusted EBITDA of $1.69 billion, an increase of 55% year-on-year, slightly higher than the $1.64 billion expected by analysts polled by StreetAccount.
“We are fortunate to have strong performance in our core business, which allows us to invest organically in new products and features that will Bring long-term returns to our platform.
Uber said total bookings in the fourth quarter were expected to be between $42.75 billion and $44.25 billion, compared with StreetAccount’s forecast of $43.68 billion. Uber forecast adjusted EBITDA of $1.78 billion to $1.88 billion, compared with analysts’ expectations of $1.83 billion.
During the period, the platform completed 2.9 billion trips, an increase of 17% compared with last year. In the third quarter, the number of monthly active consumers on the Uber platform reached 161 million, an increase of 13% from 142 million in the same period last year.
Here’s how Uber’s largest business units performed:
Liquidity (total bookings): US$21 billion, an annual increase of 17%
Delivery (Total Booking): US$18.7 billion, an annual increase of 16%
Uber’s mobile travel business revenue was US$6.41 billion, a 26% increase from the same period last year. StreetAccount analysts expected $6.31 billion. The company’s delivery unit reported revenue of $3.47 billion, up 18% from the previous year. Analysts expect the company’s revenue to reach $3.43 billion, according to StreetAccount.
The company’s freight business generated revenue of US$1.31 billion in the quarter, an increase of 2% year-on-year.
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