Daily News
View All NewsUber posts $5.2 billion net loss in Q2 while revenue up 14%
Uber Technologies Inc. (NYSE: UBER) reported revenue rose 14% in the second quarter, but its net loss mushroomed to $5.2 billion. However, the human cloud, ride-sharing company reported it incurred $3.9 billion in stock-based compensation expenses during the quarter.
| (US$ millions) | Q2 2019 | Q2 2018 | % change |
| Revenue | $3,166 | $2,768 | 14% |
| Net loss | ($5,236) | ($878) | nm |
CNET reported the net loss was higher than expected and revenue growth lower than expected.
However, Uber CEO Dara Khosrowshahi said trips were up 35% in the quarter and the platform had more than 100 million monthly active platform consumers for the first time.
Fellow human cloud, ride-sharing firm Lyft Inc. (NASDAQ: LYFT) reported its results earlier this week, and said revenue was up 71.8% and said its net loss was $644.2 million.
Uber’s ridesharing segment saw revenue grow 2%, but Uber Eats posted the fastest revenue growth, up 72%.
Revenue by segment
| (US$ millions) | Q2 2019 | Q2 2018 | % change |
| Ridesharing | $2,348 | $2,291 | 2% |
| Uber Eats | $595 | $346 | 72% |
| Vehicle solutions | $3 | $34 | -91% |
| Other revenue | $25 | $26 | -4% |
Revenue rose across geographies except in Latin America, where it fell 24%.
Revenue by geography for core platform
| (US$ millions) | Q2 2019 | Q2 2018 | % change |
| US and Canada | $1,776 | $1,493 | 19% |
| Latin America | $417 | $547 | -24% |
| EMEA | $502 | $413 | 22% |
| Asia Pacific | $276 | $244 | 13% |
Share price and market cap
Shares in Uber were down 7.0% to $39.96 as of 12:56 p.m. Eastern time; the company had a market cap of $67.31 billion.