8/2/2022, 1:03 PM (Source: TeleTrader)
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Uber: Q2 revenue doubles to $8.1 billion

Uber Technologies Inc. announced on Tuesday that its revenue amounted to $8.1 billion in the second quarter of fiscal 2022, soaring 105% compared to the same time span a year ago.

Gross bookings jumped 33% on the same basis to $29.1 billion, while the number of monthly active platform consumers (MAPCs) was up 21% to 122 million. Net loss for the second trimester of 2022 came in at $2.6 billion, compared to a net income of $1.14 billion from the corresponding timeframe in 2021. Diluted net loss per share stood at $1.33 in the three-month period that ended on June 30, 2022, down from a diluted net income per share of $0.58 that was recorded in 2021.

CEO Dara Khosrowshahi praised the results, saying that Uber had adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) "significantly above our guidance, and $382 million in free cash flow, all on a platform that's larger than ever, with the number of consumers and earners using Uber now both at all-time highs."

The ride-hailing company's shares surged over 10% in premarket trade after the report was published.

Baha Breaking News (BBN) / MS