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Uber continues to lose money as it scales scooters, bikes and other newer businesses

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RideGuru
303 Driver Driver Rider Guru
 Posted 1 year, 8 months ago

Did you see Uber's recent finances? Its losses accelerated this quarter but this was expected primarily due to their new investments into the scooter and bikes businesses.

Here are three highights:

- Uber, which is expected to go public sometime next year, just released its Q3 2018 financial results. Uber’s net losses increased 32 percent quarter over quarter to $939 million on a pro forma basis, though Uber expected these losses as it continues to invest in future growth areas.

- On an earnings before interest, taxes, depreciation and amortization basis (EBIDTA), Uber’s losses were $527 million, up about 21 percent quarter over quarter. And as Uber prepares to go public, the company has started presenting the income statements with stock-based compensation.

- Revenue for Q3 was up five percent quarter over quarter at $2.95 billion and up 38 percent year over year. Meanwhile, gross bookings were up six percent quarter over quarter and 34 percent year over year at $12.7 billion.

More summary on TechCrunch: https://techcrunch.com/2018/11/14/uber-q3-2018-continues-to-lose-money-as-it-works-to-scale-scooters-bikes-and-other-newer-businesses/


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