Daily News

View All News

Uber posts $5.2 billion net loss in Q2 while revenue up 14%

August 09, 2019

Uber Technologies Inc. (NYSE: UBER) reported revenue rose 14% in the second quarter, but its net loss mushroomed to $5.2 billion. However, the human cloud, ride-sharing company reported it incurred $3.9 billion in stock-based compensation expenses during the quarter.

(US$ millions) Q2 2019 Q2 2018 % change
Revenue $3,166 $2,768 14%
Net loss ($5,236) ($878) nm

CNET reported the net loss was higher than expected and revenue growth lower than expected.

However, Uber CEO Dara Khosrowshahi said trips were up 35% in the quarter and the platform had more than 100 million monthly active platform consumers for the first time.

Fellow human cloud, ride-sharing firm Lyft Inc. (NASDAQ: LYFT) reported its results earlier this week, and said revenue was up 71.8% and said its net loss was $644.2 million.

Uber’s ridesharing segment saw revenue grow 2%, but Uber Eats posted the fastest revenue growth, up 72%.

Revenue by segment

(US$ millions) Q2 2019 Q2 2018 % change
Ridesharing $2,348 $2,291 2%
Uber Eats $595 $346 72%
Vehicle solutions $3 $34 -91%
Other revenue $25 $26 -4%

Revenue rose across geographies except in Latin America, where it fell 24%.

Revenue by geography for core platform

(US$ millions) Q2 2019 Q2 2018 % change
US and Canada $1,776 $1,493 19%
Latin America $417 $547 -24%
EMEA $502 $413 22%
Asia Pacific $276 $244 13%

Share price and market cap

Shares in Uber were down 7.0% to $39.96 as of 12:56 p.m. Eastern time; the company had a market cap of $67.31 billion.


Add New Comment

Post comment

NOTE: Links will not be clickable.