Uber's second quarter earnings fell below expectations and sent stock shares tumbling
revealed Uber faced both its slowest period of revenue growth and largest-ever loss during the second quarter, sending shares of Uber stock down as much as 12 percent in after hours trading.
Uber's Q2 earnings fell below analyst expectations, posting a $4.72 loss per share and $3.17 billion in revenue. The company's posted $5.2 billion loss marked the biggest loss since Uber's financial disclosures began in 2017, and even excluding the $3.9 billion the company paid in stock-based compensation, the remaining $1.3 billion is still nearly double Uber's $878 million loss in Q2 2018.
The disappointing earnings report came just one day after Lyft, Uber's biggest competitor in the ride-sharing space, raised their stock prices after posting markedly more encouraging. The Uber rival earned $867 million in revenue, a 72% increase over last year, and a loss per share of 68 cents, beating an expected $809 million in revenue and $1.74 per share loss.
Uber's Q2 earnings reflect a seemingly troubled period for the company in the wake of their disastrous IPO in May, which was described at the time as potentially the
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Uber reports its largest quarterly loss everUber burned through $5.2 billion in the three months ending in June, its largest-ever quarterly loss, as the company's revenue growth continues to slow
Baca lebih lajut »
Uber lost $5.2 billion last quarter and posts disappointing salesUber posted disappointing quarterly results, sparking a stock sell-off -- unlike its ride-hailing rival Lyft, which beat analysts’ expectations the day before.
Baca lebih lajut »
Lionsgate Posts First-Quarter Loss as Starz Grows AgainThe studio, led by CEO Jon Feltheimer, unveiled its latest financial results on Thursday as Starz global subscriber base jumped to 26.5 million.
Baca lebih lajut »