Uber experts say 2 key data points reveal just how hard COVID-19 has hit the ride-hail giant (UBER)
- Uber lost more money than Wall Street expected during the second quarter of this year, but its delivery business grew and its ride-hailing operation made a profit, on an adjusted basis.
- Business Insider asked two financial analysts what they believe to be the most important number in Uber’s second-quarter earnings report.
- They highlighted the 73% decrease in gross bookings for Uber’s ride-hailing business and its overall adjusted loss of $837 billion.
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Uber‘s second-quarter earnings report illustrated both the enormous challenges the coronavirus pandemic has created for the ride-hailing industry and the benefits of the company’s diversified business model. Though Uber lost more money than Wall Street expected, its food-delivery operation more than doubled its revenue from the second quarter of 2020.
As is the case with many financial reports, your feelings about Uber’s prospects may depend on the numbers you prioritize. Even if you narrow your focus …continued .
[Source: Business Insider]