Market Updates
Uber Mobility and Delivery Segments Revenues Surge
Scott Peters
02 Aug, 2022
New York City
Uber Technologies Inc rose 17.1% to $28.81 after the ride hailing platform said it turned cash flow positive for the first time.
Uber said gross bookings increased 33% from a year ago to $29.1 billion and revenues soared 105% to $8.1 billion.
Mobility segment revenues rose 120% to $3.55 billion, delivery segment revenues surged 43% to $2.7 billion, and freight revenues including a recent acquisition jumped six-fold to $1.8 billion.
Revenues in the U.S. and Canada jumped 149% to $4.9 billion and in Europe including the Middle East and Africa rose 99% to $1.9 billion.
Revenues in Latin America soared 57% to $481 million and in Asia Pacific jumped 14% to $810 million.
Uber swung to a quarterly loss of $2.6 billion or $1.33 a diluted share driven in part by investment losses of $1.7 billion.
Net loss includes a pre-tax mark-to-market write down of investments by $1.7 billion relating to Uber
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