Uber reported revenue growth, but did not live up to analysts’ forecasts – Kommersant

Today, November 7, the American taxi aggregator Uber reportedthat in the third quarter its total revenue increased by 12%, to $9.3 billion. Net profit amounted to $221 million, while a year earlier the company received a loss of $1.2 billion. In terms of per share, profit amounted to $0.1, while analysts, respondents LSEG (formerly Refinitiv), expected $0.12. In terms of total revenue, Uber also reported worse than expected – analysts expected $9.5 billion.

Uber CEO Dara Khosrowshahi said the company continues to focus on improving the customer experience, which has led to higher profits. In addition, Mr. Khosrowshahi expressed hope that Uber’s performance will improve in the fourth quarter against the backdrop of a large number of holidays, increased tourist activity and sales, which should lead not only to an increase in the number of taxi trips, but also to increased demand for goods delivery services and ready-made food from cafes and restaurants.

Evgeny Khvostik