Uber reports $3B in Q4 revenue, rising operating losses

TechCrunch | 2/15/2019 | Staff
itsdonaldk (Posted by) Level 3
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Ahead of its anticipated initial public offering this year, Uber reported a net loss of $865 million in the fourth quarter. That figure, however, was aided by a tax benefit that saved the company from reporting a $1.2 billion net loss in the period. On an adjusted, pro-forma basis, Uber’s net loss in the final quarter of 2018 was a slimmer $768 million.

The figures are an improvement of sorts. The firm reported a pro-forma net loss of $939 million in the preceding, third quarter of 2018, but also reported a smaller pre-tax net loss of $971 million. Regardless, Uber’s stiff losses continued in the quarter.

Uber - EBIDTA - Losses - Increase - Year

Meanwhile, Uber’s adjusted EBIDTA losses came in at $842 million, an increase of 88 percent year over year, and an increase of 60 percent from the third quarter. In that preceding quarter, Uber’s adjusted EBIDTA losses came in at $527 million. These increased losses can be attributed to increased competition and significant investment in bigger bets like micromobility and Elevate, for example.

In Q4 2018, Gross bookings (the amount collected before it pays drivers) went up 11 percent quarter over quarter to $14.2 billion while revenue increased 2 percent quarter...
(Excerpt) Read more at: TechCrunch
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