Categories AlphaGraphs, Earnings, Technology
Earnings: Uber unexpectedly swings to Q4 profit; revenues up 83%
Uber Technologies, Inc. (NYSE: UBER) on Wednesday reported net profit for the December quarter, compared to a loss in the prior-year period. The bottom line benefited from an 83% growth in revenues.
For the fourth quarter of 2021, the company reported a net income of $892 million or $0.44 per share, compared to a loss of $968 million or $0.54 per share in the year-ago period. The latest number beat Wall Street’s projection.
There was an 83% increase in fourth-quarter revenues to $5.8 billion, which also came in above the consensus forecast.
Read management/analysts’ comments on Uber’s Q4 2021 earnings
Uber’s shares have lost 8% since the beginning of the year. The stock made strong gains during extended trading on Wednesday, after closing the regular session higher.
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