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November 6, 2020

Uber Q3 revenue down 18% to US$3.1bn

Uber Technologies has reported third-quarter revenue down 18% year-over-year to US$3.1bn, or 17% on a constant currency basis.

By Rhodri Morgan

Uber Technologies has reported third-quarter revenue down 18% year-over-year to US$3.1bn, or 17% on a constant currency basis.

Gross bookings declined to US$14.7bn, down 10% year-over-year, or 8% on a constant currency basis, with mobility gross bookings declining 50% and delivery gross bookings growing 135% year-over-year, respectively, on a constant currency basis.

Net loss attributable to Uber Technologies was US$1.1bn, which includes US$183m in stock-based compensation expense.

“Despite an uneven pandemic response and broader economic uncertainty, our global scope, diversification,and the team’s tireless execution delivered steadily improving results, with total company gross bookings down just 6% year-on-year in September,” said CEO, Dara Khosrowshahi.

“Mobility gross bookings nearly doubled from Q2 levels and delivery surged again to 135% year-on-year growth thanks to an increasing pace of innovation, which saw us launch new safety technology; extend delivery offerings into groceries and prescriptions; bring Uber Green to more than 50 cities; and expand both Uber Pass and Eats Pass membership plans.”

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