Services

Is Uber Back on Track With Q4 Results?

Uber Technologies Inc. (NYSE: UBER) reported fourth-quarter financial results after markets closed Thursday. The ride-sharing firm posted a net loss of $0.64 per share and $4.07 billion in revenue, compared with consensus estimates that were calling for a net loss of $0.67 per share and $4.06 billion in revenue. The same period of last year reportedly had a net loss of $1.98 per share and $2.97 billion in revenue.

During the latest quarter, gross bookings increased 28% year over year to $18.1 billion, up 30% in constant currency. Monthly Active Platform Consumers increased by 22% to 111 million, up from 91 million.

Also, the total number of trips increased 28% year over year to 1.91 billion, compared with the same period last year when Uber reported 1.49 billion trips.

Adjusted net revenue (ANR) growth accelerated to 41% year over year, or 43% on a constant currency, to $3.73 billion.

CEO Dara Khosrowshahi commented:

2019 was a transformational year for Uber and I’m gratified by our progress, steadily delivering against the commitments we’ve made to our shareholders on our path to profitability. We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform.

Shares of Uber closed Thursday at $37.16, in a post-IPO range of $25.58 to $47.08. The consensus price target is $45.08. Following the announcement, the stock is initially up less than 1% at $37.50 in the after-hours session.

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