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4q20’s revenue of $3.2 billion and net loss narrowed by 12% year on year From Uber

The following is the 4q20’s revenue of $3.2 billion and net loss narrowed by 12% year on year From Uber recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, Investment & Economy, Online car Hailing.

On February 11, 2021, Uber, the US taxi service giant, released its latest quarterly financial report today. According to the report, in the fourth quarter of the fiscal year 2020 ended December 31, Uber’s revenue was US $3.165 billion, down 16% from US $3.747 billion in the same period of last year, with a year-on-year decrease of 15% excluding the impact of exchange rate changes; the net loss attributable to Uber was US $968 million, down 12% from US $1096 million in the same period of last year.

Uber’s diluted loss per share in the fourth quarter was slightly better than Wall Street analysts’ expectations, but its revenue failed to meet expectations, resulting in its share price falling nearly 3% after hours.

Summary of fourth quarter results:

The net loss attributable to Uber in the fourth quarter was $968 million, with a diluted loss of $0.54 per share, which was better than the same period last year and slightly better than analysts’ expectations. In the fourth quarter of fy2019, the net loss attributable to Uber was $1096 million, with a diluted loss of $0.64 per share. According to the data provided by Yahoo Finance website, 26 analysts had expected Uber’s diluted loss per share to reach $0.55 in the fourth quarter on average. Uber had an operating loss of $877 million in the fourth quarter, compared with $971 million in the same period last year.

Uber’s revenue in the fourth quarter was $3.165 billion, down 16% from $3.747 billion in the same period last year. Excluding the impact of exchange rate changes, Uber’s revenue fell 15% year-on-year, which was less than analysts expected. According to the data provided by Yahoo Finance website, 19 analysts had expected Uber’s fourth quarter revenue to reach $3.58 billion on average.

Uber’s gross bookings in the fourth quarter was US $17.152 billion, down 5% from US $18.131 billion in the same period of last year, and a year-on-year decrease of 4% excluding the impact of exchange rate changes.

Uber had 93 million monthly active platform consumers in the fourth quarter, down 16% from 111 million in the same period last year. Uber’s total number of trips in the fourth quarter was 1.443 billion, down 24% from 1.907 billion in the same period last year.

Uber’s fourth quarter adjusted EBITDA (net profit excluding interest, tax, depreciation and amortisation) was $454 million, compared with $615 million a year earlier.

Uber’s total costs and expenses in the fourth quarter were $4.042 billion, compared with $4.718 billion in the same period last year. Among them, Uber’s revenue cost in the fourth quarter was $1.441 billion, compared with $1.605 billion in the same period of last year; its operation and support expenditure was $369 million, compared with $506 million in the same period of last year; its sales and marketing expenditure was $1.038 billion, compared with $1.251 billion in the same period of last year; its R & D expenditure was $483 million, compared with $608 million in the same period of last year; and its general affairs expenditure was $1.038 billion The expenditure on accounting and administration was US $531 million, compared with us $647 million in the same period of last year; the expenditure on depreciation and amortization was US $180 million, compared with us $101 million in the same period of last year.

Fourth quarter results by Sector:

By business category, Uber’s mobile business revenue in the fourth quarter was US $1.471 billion, down 52% compared with us $3.050 billion in the same period of last year, with a year-on-year decrease of 51% excluding the impact of exchange rate changes; the express business revenue was US $1.356 billion, up 224% compared with us $418 million in the same period of last year, with a year-on-year increase of 220% excluding the impact of exchange rate changes; the freight business revenue was US $3.13 billion The revenue of ATG and other technology programs was US $25 million, which was the same as that of the same period last year; the revenue of all other businesses was zero, which was US $35 million.

Classified by business category, Uber’s mobile business bookings in the fourth quarter were US $6.789 billion, down 50% compared with us $13.512 billion in the same period of last year, with a year-on-year decrease of 47% excluding the impact of exchange rate changes; the express business bookings were US $10.050 billion, up 130% compared with us $4.374 billion in the same period of last year, with a year-on-year increase of 128% excluding the impact of exchange rate changes; the freight business bookings were US $10.050 billion, with a year-on- The booking volume was US $313 million, up 43% from US $219 million in the same period of last year. Excluding the impact of exchange rate changes, the booking volume of all other businesses was zero, up from US $26 million in the same period of last year.

By business category, the adjusted EBITDA of Uber’s mobile business in the fourth quarter was US $293 million, down 61% from US $742 million in the same period of last year; the adjusted EBITDA of express business was US $145 million, up 69% from US $461 million in the same period of last year; the adjusted EBITDA of freight business was US $41 million, up 25% from US $55 million in the same period of last year; ATG The adjusted EBITDA of and other technology programs was US $72 million, an improvement of 45% compared with us $130 million in the same period of last year; the adjusted EBITDA of all other businesses was zero, compared with us $67 million in the same period of last year.

Fourth quarter results by Region:

By region, Uber’s revenue from the United States and Canada was $1.814 billion in the fourth quarter, down 26% from $2.458 billion in the same period last year; its revenue from Latin America was $302 million, down 43% from $531 million in the same period last year; its revenue from Europe, the Middle East and Africa was $664 million, up 43% from $531 million in the same period last year Revenue from the Asia Pacific region was $385 million, up 70% from $227 million in the same period last year.

Fy2020 results:

In the whole fiscal year 2020, Uber’s revenue was $11.139 billion, down 11% from $13.00 billion in fiscal year 2019. Excluding the impact of exchange rate changes, Uber’s revenue fell 9% year-on-year, which failed to meet analysts’ expectations. According to the data provided by Yahoo Finance website, 23 analysts had expected Uber’s annual revenue to reach $12.33 billion on average.

The total booking volume was US $57.897 billion, down 11% from US $65.001 billion in fy2019, and 9% year-on-year, excluding the impact of exchange rate changes. Uber’s annual total number of trips was 5.025 billion, down 27% from 6.904 billion in fy2019.

The net loss attributable to Uber in fy2020 was US $6.768 billion, compared with us $8.506 billion in fy2019, a decrease of 20% year on year; the diluted loss per share was US $3.86, compared with us $6.81 in fy2019.

Uber’s adjusted EBITDA for the whole year was US $2.528 billion, compared with us $2.725 billion in fy2019, an improvement of 7% year on year. Among them, the adjusted EBITDA of mobile business was US $1169 million, down 44% compared with us $2071 million in the same period of last year; the adjusted EBITDA of express business was US $873 million, up 36% compared with us $1372 million in the same period of last year.

Stock price reaction:

Uber shares rose $3.58, or 6.01%, to $63.19 in regular trading on the New York Stock Exchange. Uber’s shares fell $1.79, or 2.84%, to $61.40 in after hours trading up to 4:14 p.m. EST on Wednesday (5:14 a.m. Beijing time on Thursday). In the past 52 weeks, Uber’s highest price was $63.50 and its lowest price was $13.71.

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