Today, Uber followed Lyft in reporting its Q1 2021 earnings this week. And like its rival, its results take a little bit of work to understand. So, this afternoon, we’re going to parse them as a pair so that we both understand what’s going on at the ride-hailing and food-delivery giant.
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Let’s start with the big numbers: Uber’s revenue missed sharply, while its profitability beat expectations. </blockquote>
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Let’s start with the big numbers: Uber’s revenue missed sharply, while its profitability beat expectations. In numerical terms, Uber reported $2.9 billion in revenue for the three-month period, sharply under the $3.28 billion investors had expected. However, while the street had anticipated that the company would post a $0.54 loss per share, Uber’s GAAP results actually came to a far more modest $0.06 per-share loss.
How did investors vet Uber’s performance? The company’s stock is off around 4% in after-hours trading.
Surprised by the revenue miss? Shocked by the profit beat? Startled by the sharp drop in the value of Uber’s stock? Let’s unpack the numbers.