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Uber's revenue and bookings growth slowed slightly in the second quarter of 2018, company reports

Discussion in 'News' started by Trump Economics, Aug 15, 2018.

    • Uber just reported its second quarter financials, showing a slight slowdown in net revenue and bookings growth.
    • Revenue increased 41% year-over-year, while losses narrowed 24% year over year but widened 32% from the previous quarter.
    • CEO Dara Khosrowshahi says Uber is investing in "big bets like Uber Eats", e-bikes and scooters and "high-potential markets in the Middle East and India"
    Ride-hailing company Uber is still on track to book more than $10 billion in revenue this year, although growth has slowed and its losses widened since the first quarter, according to the company's self-reported financials.

    Uber told CNBC its Q2 net revenue was $2.7 billion, up 51 percent from the same quarter last year, and gross bookings were $12 billion, up 41 percent year-over-year.

    That's a slight slowdown in growth from Q1, when it booked revenue of $2.5 billion, up 67 percent year-over-year, and gross bookings of $11.3 billion, up 55 percent year-over-year.

    Uber's adjusted EBITDA loss for the second quarter was $404 million. That's down 24 percent year-over-year, but an increase of 32 percent since the first quarter. Adjusted net loss widened in the second quarter to $659 million, up from $577 million in Q1.

    Uber's gross cash on hand at the end of the June quarter was $7.3 billion, increasing by $1 billion from a quarter before.

    Because Uber is privately held, these numbers are not reported publicly in a government filing, but are the numbers that Uber gives its own investors on a regular basis.

    Uber is one of the most highly valued private companies in the world, with valuations fluctuating between $48 billion and $70 billion over the last three years. At the end of Q1, the company reported that it was raising a new tender at a valuation of $62 billion. It has said it's preparing to go public in 2019.

    However, its lofty valuation could be difficult to maintain given Uber's slowing growth, which the company blamed on its larger size, and its continuing losses.

    Additionally, spending at Uber's self-driving car unit may be weighing on the company, according to The Information. The report says the ride-hailing company has been spending between $125 million and $200 million over the past 18 months on self driving, which is equal to 15% to 30% of Uber's quarterly losses.

    On the bright side, Uber has fast-growing newer businesses like Uber Eats. CEO Dara Khosrowshahi previously said Uber Eats is growing 200% per year and has a $6 billion run rate, meaning it's on track to book $6 billion over the next 12 months given current rates.

    "Going forward, we're deliberately investing in the future of our platform: big bets like Uber Eats; congestion and environmentally friendly modes of transport like Express Pool, e-bikes and scooters; emerging businesses like Freight; and high-potential markets in the Middle East and India where we are cementing our leadership position," Khosrowshahi told CNBC.

    Uber recently made some big bets on e-bikes and scooters by acquiring Jump Bikesand investing in scooter company Lime.

    https://www.cnbc.com/2018/08/15/uber-q2-2018-revenue-bookings-slow-slightly.html
     
  1. Kodyhead

    Kodyhead

    Location:
    South Floreduh
    Driving:
    UberSUV
    I think they lost 4 billion last year lol, if they are on track to lose 2.5 billion this year, you can say Dara is doing a terrific job lol
     
  2. I just don’t see how any of this is possible if Uber takes 75% of a call. Can you imagine if they’d stuck with 20%?
     
    MoreTips likes this.
  3. TwoFiddyMile

    TwoFiddyMile

    Location:
    charlotte
    Driving:
    Taxi
    Infrastructure.
    Their Manhattan office space alone costs millions per year in rents alone. Now create a multiplier for WORLDWIDE office space, including Green light hubs and their bloated corporate center in NorCal.
     
  4. SEAL Team 5

    SEAL Team 5

    Location:
    Phoenix
    Driving:
    Livery
    Like they said, $200 million on autonomous research and testing last year, I'm sure a world wide legal team, fines and lawsuits for Uber are hundreds of millions a year, like TwoFiddyMile said infrastructure and employees world wide are hundreds of millions a year, advertisement as in also during the World Series and Super Bowl must be hundreds of millions a year and don't forget that they kicked back $6 billion to Travis just last year. So, make sure that you do your part in helping out Uber and keep getting your side hustle on.
     
  5. They didn’t, SoftBank and
    Friends bought 6 billion in stocks from Uber
     
    HotUberMess and SEAL Team 5 like this.
  6. SEAL Team 5

    SEAL Team 5

    Location:
    Phoenix
    Driving:
    Livery
    Ahh, campaign contributions. My bad.
     
  7. HotUberMess

    HotUberMess

    Location:
    Orlando
    Eventually they will run out of high profile investors to dupe, that’s why they’re rushing to IPO so they can dupe the little guy instead.

    And gaaaahd I can’t believe they’re wasting money in this stupid scooter idea
     
  8. Kodyhead

    Kodyhead

    Location:
    South Floreduh
    Driving:
    UberSUV
    Uber has a lot of money, they just cant make any lol

    Idk Toyota is a big one, I am not an expert but I think they are the best car brand to partner up with.

    And if dara closes the gap between losing money and breaking even, more investors will line up as they think they are still buying in on the low
     

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