Uber reported its third-quarter results on Thursday. After an initial dip, shares were up about 1% in after-hours trading. Uber reported a net loss of $2.4 billion for the quarter, because of a drop in the value of its investment holdings, particularly in Didi.
Uber said its stakes in Zomato, Aurora, and Joby helped offset some of that loss.posted a net loss of $1.09 billion in the same quarter a year ago. The company said the loss per share is $1.28, and the company expected.33 cents. The company reported a revenue: $4.8 billion, and the analyst predicted $4.4 billion.
Uber also reported its first adjusted EBITDA profit, meeting its end-of-year target. The company posted an adjusted EBITDA profit of $8 million, up from an adjusted EBITDA loss of $507 million in the second quarter. The company reported Mobility as $9.9 billion, up 67% year over yearDelivery revenue has continued to outperform its core ride-hailing business at $2.24 billion, compared with $2.2 billion, though that gap is narrowing. Freight revenue brought in $402 million. In an update to shareholders, the company said that its delivery merchants grew to more than 780,000.
Uber reported 1.64 billion trips on the platform during the quarter, up 9% from the past quarter and 39% year over year. Monthly active platform consumers reached 109 million, up 8% from the prior quarter. Drivers and couriers earned an aggregate of $8.6 billion during the quarter.