Uber misses by $0.08, misses on revs, confident in ability to achieve adjusted EBITDA profitability before end of 2021
- Reports Q3 (Sep) GAAP loss of $0.68 per share, $0.08 worse than the S&P Capital IQ Consensus of ($0.60); revenues fell 20.0% year/year to $3.13 bln vs the $3.19 bln S&P Capital IQ Consensus.
- Gross Bookings declined to $14.7 billion, down 10% year-over-year, or 8% on a constant currency basis, with Mobility Gross Bookings declining 50% and Delivery Gross Bookings growing 135% year-over-year, respectively, on a constant currency basis.
- Trips down 35% to 1,770 mln.
- Adjusted EBITDA loss of $625 million, up $40 million year-over-year, and down $212 million quarter-over-quarter, and 22.2% margin as a percentage of ANR.
- "Our Mobility segment generated $245 million in Adjusted EBITDA, up nearly $200 million quarter-over-quarter, while we also improved Delivery Adjusted EBITDA margins by more than 10 percentage points. Through continued strong execution and cost discipline, we remain confident in our ability to achieve quarterly Adjusted EBITDA profitability before the end of 2021."