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Uber has recently gone ahead and shared its profit/earning report for the second quarter of 2021. The report reveals that both the top and bottom line of the company’s performance. The firm has revealed that in the second quarter of 2021, the company has managed to bring in unexpected profits that are one-time.
However, Uber has reported that it has experienced a 4% dip when it comes to the prices of its shares. Uber revealed that in the second quarter of the year 2021, it had estimated the expected loss of the company to be 51 cents per share. However, the data shows that the actual loss the company incurred in terms of share prices was 58 cents per share.
As for the revenue, Uber revealed it had expected that the revenue would be $3.75 billion. However, the actual revenue that the company generated for the second quarter of 2021 was $3.93 billion.
For the same quarter, Uber reported that it managed to generate $1.1 billion worth of net income. The company revealed that the reason behind gaining such net income was due to high gains from other major companies backed by Uber.
The names of these two major companies are Aurora and Didi. The data shows that for the second quarter of 2021, Aurora generated $471 million worth of gains while Didi generated $1.4 billion worth of gains. According to reports, Didi ended up experiencing a drop in its share prices.
According to stats, the company ended up facing a 37% drop in the prices of its shares. This drop has been observed only in the month of July 2021. As a result of the share price drop, Uber’s stake in Didi has shrunk. Uber has revealed that its share in Didi’s stake has experienced $2 billion worth of shrinkage.
While the company has reported an increase in its net income and revenue, it has reported a high operating loss. The company has revealed that in the second quarter of 2021, its operating loss was $1.19 billion.
Uber also reported that its EBITDA loss for the particular quarter was $509 million, which is $150 million less than what it was in the last quarter of 2021.
So far, the major driving force for Uber has been its delivery services known as Uber EATS. While most of Uber’s operations were down during the COVID-19 lockdowns, it was just the Uber EATS service that managed to keep the company running.
Even when the pandemic went away and lockdowns were lifted, the company has recorded strong business.
At present, the Uber EATS segment is considered to be top of the line for Uber and it has gained tremendous growth since March of 2020. Uber also provided a breakdown of the revenues it generated for the mobility as well as the delivery segment.
For the second quarter of 2021, Uber’s gross revenue for the mobility segment was $8.6 billion. The company revealed that as compared to the same quarter of 2020, it experienced a 184% increase.
In terms of Uber’s delivery segment, its revenue for the second quarter of 2021 was $12.9 billion. Compared to the last year’s second quarter, the company has experienced an 85% increase in its gross revenue.
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