Quarterly figures
High qurtal loss, but Uber posts strong growth
Uber posted strong growth. Photo: Carsten Koall / dpa
© dpa-infocom GmbH
The transport service provider Uber has presented its figures for the third quarter: The delivery service Uber Eats is booming, but the stake in a competitor has negative consequences.
After the slump in the corona pandemic, business at taxi competitor Uber continues to recover.
In the third quarter, the company increased its revenues year-on-year by 72 percent to 4.8 billion dollars (4.2 billion euros), as it announced after the US stock market closed in San Francisco. The main business with car service brokerage, which at times almost came to a standstill during the pandemic, celebrated a strong comeback with a 67 percent increase in bookings. In addition, the delivery services around the food delivery service Uber Eats continued to flourish.
The bottom line was a loss of 2.4 billion dollars, which was mainly due to a two billion dollar burden from balance sheet revaluations. In particular, the sharply reduced participation in the Chinese rival Didi had a negative impact. On an adjusted basis, Uber posted positive operating income for the first time, amounting to eight million dollars. Analysts had expected red numbers. Uber CFO Nelson Chai spoke of an “important milestone”. Investors were less impressed and initially let the share fall significantly after the trading hours.