Aug 8, 2019

Uber stock price drops after missed Q2 expectations

Photo: Jaap Arriens/NurPhoto via Getty Images

Uber's stock price dropped by more than 12% after its Q2 revenue and losses missed analyst expectations.

By the numbers:

  • Revenue: $3.17 billion , versus $3.3 billion expected.
  • Net loss: $5.24 billion, versus losses of $3.4 billion expected. Uber says its losses include $298 million in IPO-related driver rewards and $3.9 billion in employee stock compensation.
  • Loss per share: $4.72, versus a loss of $3.19 per share expected.
  • Gross bookings: $15.76 billion, up 31% from a year ago.
  • Monthly active platform consumers: 99 million, up 30% from a year ago.

Yesterday, rival Lyft posted better-than-expected revenue for Q2 and raised its outlook for the rest of 2019.

Go deeper

The latest: George Floyd protests nationwide

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued for a seventh day across the U.S., with President Trump threatening on Monday to deploy the military if the unrest continues.

The big picture: The National Guard members has been activated in at least 23 states and Washington, DC., with curfews in place in at least 40 cities after days of unrest, per CNN.

2 hours ago - World

The world watches America burn

Newspaper front pages via the Newseum

The world is watching the grief and anger, violence and pain in America's streets.

The big picture: The U.S. accounts for nearly one-third of the world's deaths from COVID-19. The killing of a black man, George Floyd, by police has sparked days of protest and nights of chaos in America's major cities.

Trump walks to historic St. John's Church outside White House as protests rage

President Trump walked to the historic St. John’s Episcopal Church, located just steps away from the White House across Lafayette Park, on Monday night as protests linked to the murder of George Floyd raged across the capital and cities around the country.

What we're seeing: Military police and park rangers used physical force and tear gas on peaceful protestors to clear the area so that Trump could "pay respects" to the church that was damaged by a fire on Sunday.