5 Must-Watch Quarterly Reports

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 135

Shares of Uber Technologies, Inc. (NYSE:UBER) advanced over four percent on Friday, 5 November 2021, after posting its financial results for the third quarter. The popular ride-hailing service reported a loss of $1.28 per share, wider than the loss of 62 cents per share in the year-ago quarter. The loss was partly attributed to a drop in the value of its investment in Didi.

Revenue for the quarter jumped 72 percent on a year-over-year basis to $4.8 billion. Analysts were expecting Uber Technologies, Inc. (NYSE:UBER) to report a loss of 33 cents per share on revenue of $4.42 billion.

On the bright side, Uber Technologies, Inc. (NYSE:UBER) posted an adjusted EBITDA profit of $8 million for the quarter, marking its first adjusted EBITDA profitable quarter since going public. This is compared to an adjusted EBITDA loss of $625 million in the same period of 2020.

If we look at the key growth drivers, gross bookings in the quarter jumped 57 percent versus last year to $23.1 billion, missing expectations of $23.3 billion. In addition, total trips in the quarter surged 39 percent on a year-over-year basis to 1.64 billion, below the consensus forecast of 1.69 billion.

Speaking on the results, CFO Nelson Chai said:

“While we recognize it’s just a step, reaching total-company Adjusted EBITDA profitability is an important milestone for Uber. Not only did our Mobility business recover to pre-COVID margins this quarter, our core restaurant delivery business was profitable on an Adjusted EBITDA basis for the first time as well, bringing the full Delivery segment close to breakeven.”

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