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Uber Q4 Misses Expectations; But Profit Goals Remain on Track

Published 02/10/2021, 04:08 PM
Updated 02/10/2021, 04:08 PM
© Reuters.  Uber Tech Earnings, Revenue Miss in Q4

By Yasin Ebrahim

Investing.com - Uber (NYSE:UBER) Tech said Wednesday it remained on track meeting its profit goals this year despite reporting fourth-quarter results that fell short of expectations on a pandemic-fueled hit to its core ride sharing business.

Uber Technologies (NYSE:UBER) fell more than 2% in after-hours trade.

Uber Tech announced a loss per share of 54 cents on revenue of $3.17 billion. Analysts polled by Investing.com anticipated a per-share of 53 cents on revenue of $3.61B.

Gross bookings fell 5% to $17.15 billion, missing consensus estimates for $17.20 billion, paced by a 24% decline in trips and a 16% decline in monthly active platform customers.

Looking ahead, the company said it remains "well on track to achieving our profitability goals in 2021."

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

They lost less money only because they did less business overall. This is what a broken business model looks like
They literally have never made a profit
How do you loose all this money on taxi service?You pay nothing to your drivers, charge a lot of money for rides, I don’t see profit here ever.
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