Breaking News
Nov 7, 2023
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Uber Technologies Inc. increased 1.7% to $48.96 despite the double-digit ride hailing company's weaker-than-expected quarterly results.
Revenue in the third quarter increased 11% to $9.3 billion from $8.3 billion, but the company swung to a loss of $1.3 billion from a profit of $221 million, and diluted earnings per share were ($0.61) compared to 10 cents a year ago.
Gross bookings in the quarter increased by 21% to $35.3 billion, driven by a 31% increase in mobility bookings to $17.9 billion and an 18% increase in delivery bookings to $16.1 billion.
Monthly active customers on the platform increased by 15% to 142 million from 124 million.
The company anticipates gross bookings in the fourth quarter in the range of $36.5 billion and $37.5 billion.
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