Uber reports third quarter financial results

The third quarter financial results announced on the 4th by Uber Technologies Inc., a major U.S. vehicle dispatcher, showed adjusted interest payments, taxes and profit before amortization (EBITDA) of $ 8 million for the first time, excluding temporary expenses. Achieved a surplus. The year-ago quarter was a deficit of $ 625 million.

At a briefing for analysts, the company said most of its spending on hiring was over.

However, due to the plunge in Didi shares of its Chinese ride-hailing service, the net loss was 2.4 billion dollars. In addition, the adjusted earnings outlook for the fourth quarter was $ 25-75 million, below market expectations of $ 114 million.

After a briefing for analysts, stock prices have risen about 1% in after-hours trading.

Total sales were up 72% to $ 4.8 billion, surpassing analysts’ expectations of $ 4.4 billion.

Mobility business sales, including rideshare, increased 62% year-on-year to $ 2.2 billion. On a quarterly basis, it increased by 36% and margins recovered to pre-Corona levels.

According to Uber, service users increased in the third quarter and drivers returned to work. It became clear that incentive rewards for drivers contributed.

The use of round-trip airport services is also increasing, and it is said that it has increased by 20% since the beginning of September. Kosloshahi, CEO, said in a statement that this year’s Halloween weekend usage has exceeded 2019 levels.

The number of monthly active drivers and delivery personnel in the United States has increased by about 640,000 since January. No comparison with pre-corona levels was given.

Adjusted EBITDA has a deficit of $ 12 million in delivery businesses such as food delivery. Total orders were almost unchanged from the previous quarter.

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