Since the last report on earnings published by UBER, the shares have performed more than expected. Since the previous month, the stocks of the company have already added in 30.7% more- going beyond the S&P 500. And this has obviously led to investors reacting to it in a very different way. But before that, one does need to look up the report for a better understanding.
UBER’s Q3 Loss Wider Than Expected
The loss incurred by UBER in the third quarter was more than the estimate put forward by Zacks Consensus. But the loss got down to about 8.8% over the course of the year. Also, the total revenue generated by the company amounted to $3,129 million which was less than what the estimate had predicted- at $3,143.7 million. The line did drop at around 18% this entire year- something that was expected owing to the weakness in the segment with coronavirus keeping people at home.
The company did undergo quite an organizational change in the penultimate quarter of 2019- with five different segments coming out- mobility, freight, delivery, other technology programs, and advanced technologies group.
The third quarter of the company saw the majority of the revenue of the company coming from delivery. Interestingly, the revenues from this division went up by almost 100% to $1,451 million. The delivery business of the company has been experiencing a boom due to customers ordering larger volumes. The revenue from mobility went from 53% to 32%. Whereas the other divisions saw a revenue generation of $25 million- or 47%.
The total revenue of UBER declined by about 30% and fell to $1674 million in Canada and the US. But it did see a rise in Europe, Africa, and the Middle East- with an increase of 20%.