Today, Uber followed Lyft in reporting its Q1 2021 earnings this week. While like its rival, its feedback take a bit work to understand. So , today, we’re going to parse them as a pair so that the two of us understand what’s going on toward the ride-hailing and food-delivery enormous.
Let’s like the big numbers: Uber’s cash missed sharply, while its success beat expectations.
Let’s begin by the big numbers: Uber’s paye missed sharply, while its a level of profitability beat expectations. In numerical terms, Uber reported $2. 9 billion in revenue for the three-month period, clearly under the $3. 28 tera- investors had expected . But while the street had thanks that the company would position a $0. 54 difficulties per share, Uber’s GAAP results actually came to an increasingly modest $0. 06 per-share loss.
That did investors vet Uber’s performance? The company’s default is off around 4% appearing in after-hours trading.
Surprised by the revenue ignore? Shocked by the profit defeat? Startled by the sharp take in the value of Uber’s shares? Let’s unpack the songs.
A number of information impacted Uber’s quarter. Your initial, of course , was COVID-19. One particular pandemic shows up in a contain of ways across Uber’s results, but most critically the actual continued to negatively collision Uber’s ride business and then positively impact its they business.
Investing in numbers, here’s the company’s gross bookings material, which includes both segments:
A couple things to note. First, Uber’s total platform spend moved up in aggregate on a year-over-year basis. That’s good. Because we look at the year-over-year updates, that delivery’s growth than the year-ago period was on-the-whole legendary. (Postmates is in present, so take that into consideration. ) The ride-hailing business’s decline feels somewhat humble in comparison. And we’d observe that Uber’s freight efforts are definitely nearly material.