Uber beat estimates on the top and bottom line and turned an unexpected one-time profit during the second quarter.
Shares dipped more than 4% in after-hours trading.
Here’s how Uber did, compared with expectations of analysts surveyed by Refinitiv:
- Earnings per share: 58 cents vs. an expected loss of 51 cents
- Revenue: $3.93 billion vs. $3.75 billion expected
Uber reported a net income of $1.1 billion for the quarter. That was largely due to unrealized gains of $1.4 billion in Didi and $471 million in Aurora. Shares of Didi have dropped about 37% over the last month, however, shrinking Uber’s stake in the company by $2 billion last week. Uber’s operating loss was still $1.19 billion.
Its adjusted EBITDA loss was $509 million, down $150 million from the prior quarter but an improvement of $328 million from last year. EBITDA refers to earnings before interest, taxes, depreciation and amortization.
Uber reaffirmed its expectation that it will…