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.
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
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%