Uber reported a third-quarter loss Tuesday but beat analysts’ estimates for revenue and showed a surge in bookings. Shares were up about 7% in premarket trading.
Here’s how the company did:
Uber reported a net loss of $1.2 billion for the third quarter, $512 million of which was attributed to revaluations of Uber’s equity investments, according to a company release.
In a prepared statement, CEO Dara Khosrowshahi said Uber delivered a “strong quarter” and benefitted from booming travel, easing lockdowns and shifts in consumer spending. He said October is tracking to be the company’s “best month ever for both Mobility and total company Gross bookings.” However, he cautioned that after the last few years, the company has learned not to take anything for granted.
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