The company reported mixed Q4 2020 earnings on Wednesday, beating expectations on loss-per-share but falling short on revenue, according to Refinitiv estimates.
Uber’s stock fell slightly Wednesday as the company delivered mixed fourth-quarter earnings results.
Here’s how Uber did versus expectations:
- Loss: 54 cents per share, versus 56 cents expected, according to a consensus of analysts surveyed by Refinitiv.
- Revenue: $3.17 billion versus $3.58 billion expected per Refinitiv.
Here’s how Uber’s largest business segments performed in the fourth quarter of 2020:
- Mobility (gross bookings):$6.79 billion, down 50% from a year ago.
- Delivery (gross bookings): $10.05 billion, up 130% from a year ago.
CEO Dara Khosrowshahi said on an earnings call that Uber sees “many many opportunities” in the mobility segment as different regions within its global service territory recover from the pandemic.
Nevertheless, he added that timing for a full-blown recovery of the mobility business is highly dependent on when cities open up fully.