Uber continued to gain momentum in the second quarter with Americans heading back to offices and gross bookings hit an an all-time high as anxiety over COVID-19 eased.
FILE - The logo for Uber appears above a trading post on the floor of the New York Stock Exchange, Friday, Aug. 9, 2019. Uber’s ride-hailing service continued to gain momentum in the second quarter as consumers headed back to offices and started traveling more amid an easing in pandemic restrictions. Passengers took a total of 1.87 billion trips on Uber during the spring and early summer, a 24% increase from the same time last year.
Gross bookings surged 33% to $29.08 billion, an all-time high and Uber Technologies Inc. foresees third-quarter gross bookings between $29 billion and $30 billion. Uber lost $2.6 billion, or $1.33 per share, for the three months ended June 30. This included a $1.7 billion net headwind related to Uber’s equity investments, which was mostly related to the revaluation of its stakes in Aurora Innovation Inc., Grab Holdings Inc. and India'sIndustry analysts had projected a loss of only 27 cents per share.
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