Uber Technologies, Inc. (NYSE: UBER) on Thursday reported a wider net loss for the September quarter when the ride-hailing firm’s revenues increased 72%. The top-line beat estimates, while the bottom line missed.
For the third quarter of 2021, Uber reported a net loss of $2.42 billion or $1.28 per share, compared to a loss of $1.1 billion or $0.62 per share in the year-ago period. The latest number missed Wall Street’s projection.
There was a 72% increase in third-quarter revenues to $4.85 billion, which also came in above the consensus forecast.
Read management/analysts’ comments on Uber’s Q3 2021 earnings
This week, Uber’s stock traded broadly at the levels seen at the beginning of the year. The stock dropped during extended trading on Thursday, after closing the regular session lower.