11/4/2021, 9:08 PM (Source: TeleTrader)
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Uber sees Q3 revenue jump 72% YoY to $4.8B

Uber Technologies Inc. revealed on Thursday that its revenue in the third fiscal quarter increased by 72% on a yearly basis, reaching $4.8 billion.

Gross Bookings grew 57% year-over-year to $23.1 billion, with Mobility Gross Bookings of $9.9 billion, up 67% annually and Delivery Gross Bookings of $12.8 billion, rising 50% from Q3 2020. Trips during the quarter grew 39% yearly to 1.64 billion, or nearly 18 million trips per day on average, the company said.

"Our early and decisive investments in driver growth are still paying dividends, with drivers steadily returning to the platform, leading to further improvement in the consumer experience," said CEO Dara Khosrowshahi. "This is especially important as Mobility reignites. Mobility Gross Bookings are up 18 percent over just the last two months and this Halloween weekend surpassed 2019 levels."

Uber shares dropped 4.93% aftermarket following the earnings release.

Baha Breaking News (BBN) / DJ