Uber Q3 Results
investor.uber.com
Uber Q3 Results
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Re: Uber Q3 Results
#2Re: Uber Q3 Results
#3They're still losing money hand over fist - no surprise there. Looks like that is hitting the stock in after-hours for about -5%. Biggest takeaway for me is that gross revenue actually grew slower than total trips (30% vs 31%), which is an interesting trend.
Re: Uber Q3 Results
#4If they hadn't gotten into food delivery, freight, scooters, etc. they'd be profitable by now.
Re: Uber Q3 Results
#5They're still losing money hand over fist - no surprise there. Looks like that is hitting the stock in after-hours for about -5%. Biggest takeaway for me is that gross revenue actually grew slower than total trips (30% vs 31%), which is an interesting trend.
> Biggest takeaway for me is that gross revenue actually grew slower than total trips (30% vs 31%)
But on a constant currency basis gross revenue grew at the same rate, so the only reason it was slower was due to exchange rate changes.
Re: Uber Q3 Results
#6They're still losing money hand over fist - no surprise there. Looks like that is hitting the stock in after-hours for about -5%. Biggest takeaway for me is that gross revenue actually grew slower than total trips (30% vs 31%), which is an interesting trend.
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Re: Uber Q3 Results
#7[deleted]
Re: Uber Q3 Results
#8They're still losing money hand over fist - no surprise there. Looks like that is hitting the stock in after-hours for about -5%. Biggest takeaway for me is that gross revenue actually grew slower than total trips (30% vs 31%), which is an interesting trend.
Looks like Uber has two types of businesses. a) Ones that are slowing down, e.g. Rides with growth rate of ~20% and b) Ones that are growing faster by unsustainable economics, e.g. Freight -40% EBITDA.
For Uber ever to thrive, they need a business that is growing fast with good economics. It doesn't look they have one anywhere on the horizon.
Re: Uber Q3 Results
#9If they hadn't gotten into food delivery, freight, scooters, etc. they'd be profitable by now.
Only if you take their made up, non GAAP, financial measurement of “adjusted EBITDA” seriously. This is no better than WeWork’s “community adjusted EBITDA” and we see how that worked out.
Adjusted EBITDA. We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from discontinued operations, net of income taxes, (ii) net income (loss) attributable to non-controlling interests, net of tax, (iii) provision for (benefit from) income taxes, (iv) income (loss) from equity method investment, net of tax, (v) interest expense, (vi) other income (expense), net, (vii) depreciation and amortization, (viii) stock-based compensation expense, (ix) certain legal, tax, and regulatory reserve changes and settlements, (x) asset impairment/loss on sale of assets, (xi) acquisition and financing related expenses, (xii) restructuring charges and (xiii) other items not indicative of our ongoing operating performance.
Re: Uber Q3 Results
#10You have to go past a lot of non-GAAP accounting to see that they actually lost $1.1B last quarter, almost all from operations. There is a nice chart showing all the things they are taking out to get their adjusted EBITDA of -0.5B.
It seems like they are always taking out a bunch of one time charges to claim that there core business would be profitable. But every quarter they have those charges. I don't understand how people say their ride sharing business is profitable. I mean maybe it is and I just don't understand how people think that. I would love it if someone would walk me through that.