Uber reports third-quarter results that beat Wall Street's revenue expectations
Uber reported third-quarter results Thursday that beat analysts' expectations for revenue.
Uber reported third-quarter results on Thursday that beat Wall Street's expectations for revenue but missed on analysts' projections for gross bookings.
Shares of the company were down more than 5% pre-market on Thursday.
Here's how the company did:
Earnings per share: $1.20. That may not compare to the 41 cents expected by LSEG.
Revenue: $11.19 billion vs. $10.98 billion expected by LSEG
Uber's revenue grew 20% in its third quarter from $9.3 billion a year prior. The company reported $40.97 billion in gross bookings for the period, which is below the $41.25 billion expected by analysts, according to StreetAccount.
The company reported a net income of $2.6 billion, or $1.20 per share, up from $221 million, or 10 cents per share, in the same quarter last year. Uber said its net income includes a $1.7 billion pre-tax benefit from unrealized gains related to the reevaluation of its equity investments.
Uber reported adjusted EBITDA of $1.69 billion, up 55% year over year and slightly above the $1.64 billion expected by analysts polled by StreetAccount.
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