Uber Q3 revenue rises 10%, slightly beats estimates
UBER•UBER•UBER•UBER•Uber’s third-quarter revenue rose 10% year over year to $14.77 billion, slightly above estimates, while adjusted EPS rose 35% to $0.88 but missed estimates. Gross bookings increased 20% to $59.82 billion, and the company forecast fourth-quarter gross bookings of $63.25 billion to $65.25 billion.
Uber reported third-quarter revenue of $14.77 billion, up 10% year over year and slightly above the $14.70 billion estimate. Adjusted EPS rose 35% to $0.88, below the $0.96 estimate. Gross bookings grew 20% to $59.82 billion, and free cash flow was $2.54 billion.
Trips rose 16% to 4.1 billion, with monthly active platform consumers increasing 14% and monthly trips per consumer rising 2%. Net income fell to $512 million, including a $476 million loss from equity-investment revaluations. For the fourth quarter, Uber forecast gross bookings of $63.25 billion to $65.25 billion, non-GAAP EPS of $0.95 to $0.99, and adjusted EBITDA of $3.13 billion to $3.23 billion.
