Uber Technologies Inc (NYSE:UBER) shares moved up early Friday morning on reporting upbeat earnings for its third quarter.
Gross Bookings declined to $14.7 billion, down 10% year-over-year, or 8% on a constant currency basis, with Mobility Gross Bookings declining 50% and Delivery Gross Bookings growing 135% year-over-year, respectively, on a constant currency basis.
Revenue declined 18% year-over-year, or 17% on a constant currency basis. Mobility Revenue declined 53% year-over-year and Delivery Revenue grew 125% year-over-year.
Adjusted Net Revenue declined 20% year-over-year, Mobility ANR declined 52% year-over-year and Delivery ANR grew 190% year-over-year. Adjusted Net Revenue and segment Adjusted Net Revenue excludes the impact of COVID-19 response initiatives.
Net loss attributable to Uber Technologies, Inc. was $1.1 billion, which includes $183 million in stock-based compensation expense.
Mobility Adjusted EBITDA of $245 million, improved +$195 million quarter-over-quarter (-$386 million year-over-year), and delivered 17.9% margin as a percentage of Mobility ANR.
Adjusted EBITDA loss of $625 million, up $40 million year-over-year, and down $212 million quarter-over-quarter, and 22.2% margin as a percentage of ANR. Adjusted EBITDA excludes the impact of COVID-19 response initiatives.
Said CEO Dara Khosrowshahi "Mobility Gross Bookings nearly doubled from Q2 levels and Delivery surged again to 135% year-on-year growth thanks to an increasing pace of innovation, which saw us launch new industry-leading safety technology; extend delivery offerings into groceries and prescriptions; bring Uber Green to more than 50 cities; and expand both Uber Pass and Eats Pass membership plans."
UBER shares advanced $1.58, or 3.8%, to $43.54.
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