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Uber’s latest quarter by the numbers

Uber’s latest quarter by the numbers
[Photo: Lorenzo Cafaro/Pexels]

The company has released its most recent quarterly results, and there are some interesting tidbits of information from them worth highlighting:

  • Uber technically turned a $2.5 billion profit in its most recent quarter, thanks to being able to account for the value of its Southeast Asian business it sold to Grab and its Russian business it sold to Yandex.
  • Minus those one-offs, Uber actually had a loss of $312 million for the quarter.
  • Net revenue, after accounting for payments to drivers, grew by 70% year-over-year to $2.6 billion.
  • However, gross bookings, the total value of the fares drivers take in, only grew by 55% to $11.3 billion. This means Uber is taking more of the bookings money for themselves, with less going to drivers.

Uber also announced that investment firms will buy between $400 million and $600 million in Uber stock from existing shareholders, reports Bloomberg. That deal will value the company at a whopping $62 billion.

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