Uber Eats grew like hell in Q1 but Uber still lost nearly $3B

Uber Eats grew like hell in Q1 but Uber still lost nearly $3B

4 years ago
Anonymous $pSba0tWIcA

https://techcrunch.com/2020/05/07/uber-eats-grew-like-hell-in-q1-but-ubers-still-lost-nearly-3b/

Ahead of its earnings report today, shares of Uber rose around 11%, buoyed by a set of financial results and promises about the future from Lyft that were rated highly by investors. That optimism lapped over the edges onto Uber.

Today after the bell, however, the global ride-hailing giant reported its own financial results. Analysts had anticipated a loss of $0.83 per share against $3.51 billion in revenue, though top line estimates varied from $2.31 billion to $4.33 billion — an unusually large range driven by COVID-19-led uncertainty.

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