Uber Technologies Inc. (NYSE: UBER) reported third-quarter financial results after markets closed Thursday. The ride-sharing firm posted a net loss of $0.62 per share and $3.13 billion in revenue compared with consensus estimates that were calling for a net loss of $0.65 per share and $3.2 billion in revenue. In the same period last year, Uber reported a net loss of $0.68 per share and $3.81 billion in revenue.
Revenue declined 18% year over year, or 17% on a constant currency basis. Mobility revenue declined 53% and delivery revenue grew 125% in that same time.
Adjusted net revenue (ANR) growth decreased 20% year over year. Mobility ANR declined 52% and Delivery ANR grew 190% in that time.
During the latest quarter, gross bookings decreased 10% year over year to $14.7 billion, down 8% in constant currency. Mobility gross bookings were down 50% and delivery gross bookings grew 135% year over year, respectively, on a constant currency basis.
Monthly active platform Consumers decreased by 24% to 78 million, down from 103 million.
Also, the total number of trips decreased 35% year over year to 1.15 billion, compared with the same period last year when Uber reported 1.77 billion trips.
In terms of its segments, Uber reported:
- Mobility revenue decreased 53% year over year to $1.37 billion.
- Delivery revenue increased 125% to $1.45 billion.
- Freight revenue increased 32% to $288 million.
- ATG and Other Tech Programs revenue increased 47% to $25 million.
On the books, Uber’s cash, cash equivalents and short-term investments totaled $7.3 billion at the end of the quarter, versus $11.31 billion at the end of the previous fiscal year.
Shares of Uber closed Thursday at $41.85, in a 52-week range of $13.71 to $42.15. The consensus price target is $41.94. Following the announcement, the stock is initially down about 3.5% at $30.50 in the after-hours session.
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