Illustration: Sarah Grillo/Axios
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.