The world-renowned ride-hailing company Uber recently released its financials from the third quarter of this year. Uber reported a 72 percent year-over-year increase in revenue to $4.8 billion after the U.S. stock market closed in San Francisco. The main business with driving services, which had almost come to a standstill at times during the pandemic, celebrated a strong comeback with a 67 percent increase in bookings. The food delivery service Uber Eats also continued to thrive.
Nevertheless, there was also a loss of $2.4 billion, but this was mainly attributable to a $2 billion charge for balance sheet revaluations. In particular, the sharp drop in the value of the investment in the Chinese competitor Didi had a negative impact.
Adjusted operating income of more than $8 million was positive for the first time, surprising analysts who had expected a loss.
However, the quite good figures did not have a particularly strong impact on the share price. After hitting a high of $64 in February of this year, the stock fell to $38 in the following months and has since recovered somewhat. However, it has not yet reached price levels above $49.
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