Uber’s Q3 numbers include impressive profitability gains, slower-than-expected growth

Uber’s Q3 numbers include impressive profitability gains, slower-than-expected growth

a year ago
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https://techcrunch.com/2023/11/07/ubers-q3-numbers-profitability-gains/

Uber reported third-quarter earnings on Tuesday that show a profitable ride-hail and delivery company that’s chugging along in spite of slowing growth in some sectors.

The company reported revenue of $9.3 billion, an 11% increase year over year. Investors had expected Uber to report revenues of around $9.5 billion (FactSet, Refinitiv), meaning that despite the company’s growth, it fell short of estimates. Turning to profitability, Uber reported net income of $221 million in the third quarter, or 10 cents per share, compared with a net loss of $1.2 billion, or 61 cents per share, in the same quarter last year. Again, the company fell short of expectations that it would generate 12 cents in per-share profit.