Summary
Uber Technologies, Inc. (UBER) reported its financial results for the third quarter and the first nine months of 2020, ending September 30, 2020. The company continued to navigate the challenging economic environment brought on by the COVID-19 pandemic. Revenue for the third quarter of 2020 was $3.13 billion, a decrease of 18% year-over-year, primarily due to a significant decline in Mobility Gross Bookings as a result of the pandemic. However, the Delivery segment showed strong growth, with Gross Bookings increasing by 135% year-over-year on a constant currency basis, driven by increased demand for food delivery services. The company reported a net loss attributable to Uber Technologies, Inc. of $1.09 billion for the third quarter of 2020, a slight improvement from the $1.16 billion net loss in the same period of 2019. The company's Adjusted EBITDA loss widened to $625 million, indicating ongoing investments and pandemic-related impacts. Despite these challenges, Uber ended the quarter with $7.3 billion in unrestricted cash, cash equivalents, and short-term investments, providing a healthy liquidity position. Management highlighted the recovery signs in the business, with Monthly Active Platform Consumers (MAPCs) growing 42% quarter-over-quarter.
Financial Highlights
52 data points| Revenue | $2.81B |
| R&D Expenses | $493.00M |
| Operating Expenses | $3.93B |
| Operating Income | -$1.12B |
| Interest Expense | $121.00M |
| Net Income | -$1.09B |
| EPS (Basic) | $-0.62 |
| EPS (Diluted) | $-0.62 |
| Shares Outstanding (Basic) | 1.76B |
| Shares Outstanding (Diluted) | 1.76B |
Key Highlights
- 1Total revenue decreased by 18% year-over-year to $3.13 billion in Q3 2020.
- 2Mobility Gross Bookings declined 50% year-over-year on a constant currency basis, severely impacted by COVID-19.
- 3Delivery Gross Bookings surged 135% year-over-year on a constant currency basis, demonstrating resilience and growth.
- 4Net loss attributable to Uber Technologies, Inc. improved slightly to $1.09 billion in Q3 2020 from $1.16 billion in Q3 2019.
- 5Adjusted EBITDA loss widened to $625 million in Q3 2020 from $585 million in Q3 2019, reflecting ongoing investments and pandemic impacts.
- 6The company ended the quarter with $7.3 billion in unrestricted cash, cash equivalents, and short-term investments, indicating strong liquidity.
- 7Monthly Active Platform Consumers (MAPCs) increased by 42% quarter-over-quarter, signaling a recovery in platform usage.