Uber Reports 1 Billion Dollar Loss First Quarter 2019
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SAN FRANCISCO-- Uber Technologies, Inc. announced financial results today for the quarter ended March 31, 2019.
"Earlier this month we took the important step of becoming a public company, and we are now focused on executing our strategy to become a one-stop shop for local transportation and commerce. In the first quarter, engagement across our platform was higher than ever, with an average of 17 million trips per day and an annualized gross bookings run-rate of $59 billion," said Dara Khosrowshahi, CEO. "Our global reach continues to be an important differentiator, and we maintained leadership of the ridesharing category in every region we serve."
Financial and Operational Highlights
| Three Months Ended March 31, | |||||||||||
| (in millions, except per share amounts, and percentages) | 2018 | 2019 | % Change | ||||||||
| Gross Bookings | $ | 10,893 | $ | 14,649 |
34 |
% |
|||||
| Monthly Active Platform Consumers ("MAPCs") | 70 | 93 |
33 |
% |
|||||||
| Trips | 1,136 | 1,550 |
36 |
% |
|||||||
| Revenue | $ | 2,584 | $ | 3,099 |
20 |
% |
|||||
| Loss from operations | $ | (478 | ) | $ | (1,034 | ) |
(116 |
)% |
|||
| Net income (loss) attributable to Uber Technologies, Inc. (1) | $ | 3,748 | $ | (1,012 | ) |
** |
|||||
| Diluted net income (loss) per common share | $ | 1.84 | $ | (2.26 | ) |
** |
|||||
| Adjusted Net Revenue (2) | $ | 2,423 | $ | 2,761 | 14 | % | |||||
| Core Platform Adjusted Net Revenue (2) | $ | 2,383 | $ | 2,616 | 10 | % | |||||
| Core Platform Contribution Margin (as a % of ANR) | 17.9 | % | (4.5 | )% |
** |
||||||
| Adjusted EBITDA (2) | $ | (280 | ) | $ | (869 | ) | (210 | )% | |||
|
(1) Q1 2018 includes $3.2 billion gain attributable to Grab and Yandex transactions. | |||||||||||
