Categories AlphaGraphs, Earnings, Industrials

Earnings: Uber Q3 loss narrows on strong revenue growth

Uber Technologies, Inc. (NYSE: UBER) on Tuesday reported a narrower net loss for the third quarter of 2022 when the ride-hailing company’s revenues increased by double digits amid strong booking growth.

Uber Q3 2022 earnings infographic

Net loss for the September quarter was $1.21 billion or $0.61 per share, compared to a loss of $2.42 billion or $1.28 per share in the corresponding period of last year. The bottom line, meanwhile, fell short of expectations.

The improvement reflects a 72% increase in net revenues to $8.34 billion in the most recent quarter from $4.85 billion in the third quarter of 2021, with all three operating segments registering strong growth. Revenues also beat estimates. At $29.12 billion, gross bookings were higher by 26%, and up 32% on a constant-currency basis.

Check this space to read management/analysts’ comments on Uber’s Q3 2022 earnings

“Our global scale and unique platform advantages are working together to drive more profitable growth, with Gross Bookings growth of 32% and record Adjusted EBITDA of $516 million,” said Dara Khosrowshahi, chief executive officer of Uber.

Prior Performance

  • Uber Q1 2022 earnings infographic
  • Uber Q4 2021 earnings infographic
  • Uber Q3 2021 earnings infographic

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