Uber Q2 revenue falls 29% to $2.24B
Uber Technologies Inc. announced on Thursday its second quarter revenue fell 29% on an annual basis to amount to $2.24 billion. Net loss stood at $1.02 per share.
Gross bookings for Uber’s rides fell 75% year-over-year in the quarter ended June 30. With the entire second quarter affected by the coronavirus pandemic, bookings plunged by 72% from the first quarter when the virus started to spread. Revenue at Uber Eats rose to $1.2 billion.
“Our team continues to move at Uber speed to respond to the pandemic’s impact on our communities and on our business, leading our industry forward with new products and safety technologies, and harnessing the strong tailwinds driving exceptional growth in Delivery, with Gross Bookings growing 122% year-over-year excluding exited markets,” CEO Dara Khosrowshahi said in the press release.
Uber stock fell by 4.21% to $33.25 in after-hours trading.
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