Uber stock drops after Q2 earnings results

Despite beating analyst revenue expectations for Q2, Uber missed earnings predictions and posted an overall drop in its business.

Why it matters: Uber has been hard hit by the coronavirus pandemic as people continue to limit their activities outside the home.

• Notably, Uber's food delivery business has more than doubled in the past year and now has larger gross bookings than its ride-hailing business.

By the numbers (estimates via CNBC):

• Loss per share (adjusted): $1.02, compared to $0.86 expected, per Refinitiv.
• Revenue: $2.24 billion, compared to $2.18 billion expected, per Refinitiv.
• Monthly active platform consumers: 55 million, down 44% year-over-year.
• Trips: 737 million, down 56% year-over-year.
• Gross bookings: $10.22 billion, down 35% year-over-year.