Uber (
UBER) reported better than expected sales for its fiscal fourth quarter and a narrower than expected quarterly loss as the newly public company continued to grow its core businesses and cut down on costs.
Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg:
- Gross bookings: $18.13 billion vs. $18.3 billion expected
- Adjusted net revenue: $3.74 billion vs. $3.7 billion expected
- Loss per share: 64 vs. 65 cents expected
- Adjusted EBITDA loss per share: $615 million vs. $712.9 million expected
Gross bookings, which include the total value of ride-hailing and food delivery orders placed on the app, grew 28% over last year. This included a 20% rise in Rides gross bookings and 73% increase in Eats gross bookings, about matching the prior quarter’s pace of gains in its food delivery business.
Uber also made strides in cutting down overall costs, with its adjusted loss totaling $613 million in the last three months of the year versus the $817 million loss in the year-ago quarter, including interest, tax and other expenses.
“We recognize that the era of growth at all costs is over,” Uber CEO Dara Khosrowshahi
said in a statement. “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.”
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