Aug 4, 2021 - Economy & Business

Uber beats Q2 expectations and turns a rare profit

Illustration of bundles of dollars with an Uber logo

Illustration: Lazaro Gamio/Axios

Uber posted an unexpected profit for the second quarter, and beat analyst expectations with revenue of $3.9 billion and earnings per share of $0.58.

Why it matters: Uber benefited from unrealized gains of $1.4 billion and $471 million from its stakes in Didi and Aurora, respectively—just two of the ride-hailing company's portfolio of such investments.

Yes, but: It's still not profitable on an EBITDA basis, posting a $509 million loss for the quarter.

  • Its mobility division has an operating profit of $179 million, while its delivery business had a loss of $161 million (though it's shrunken 31% from the year-ago quarter).
  • And Uber maintains it expects to turn an operating profit by the end of the year.

By the numbers:

  • Revenue: $3.9 billion, compared to $ billion expected
  • Earnings per share: $0.58, compared to $ expected
  • Gross bookings: $12.9 billion
  • Monthly active platform consumers: 101 million
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