Uber: $5.9bn loss in Q1
(CercleFinance.com) - Uber has announced revenues of 6.
8 billion dollars for Q1 2022, up 141% at constant exchange rates y-o-y ($2.9 billion).
The business was driven by a 17% increase in the number of monthly active users, from 98 million to 115 million.
Logically, the number of trips made is also up, reaching 1.7 billion, compared to 1.4 billion twelve months ago.
As a result, Uber recorded adjusted EBITDA of 168 million dollars, a far cry from the 359 million dollars loss of Q1 2021.
The company nevertheless recorded a loss of 5.9 billion dollars in Q1 2022, of which the great majority - 5.6 billion dollars - was related to investments in Grab, Aurora and Didi. The value of these investments has been revised downwards, which constitutes an unrealised loss for the company. A year earlier, Uber reported a loss of 108 million dollars at end-Q1 2021.
The group nevertheless said that it is pleased with its Q1 results, outperforming its quarterly guidance, with strong incremental margins.
Uber is targeting Q2 adjusted EBITDA of 240 to 270 million dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
8 billion dollars for Q1 2022, up 141% at constant exchange rates y-o-y ($2.9 billion).
The business was driven by a 17% increase in the number of monthly active users, from 98 million to 115 million.
Logically, the number of trips made is also up, reaching 1.7 billion, compared to 1.4 billion twelve months ago.
As a result, Uber recorded adjusted EBITDA of 168 million dollars, a far cry from the 359 million dollars loss of Q1 2021.
The company nevertheless recorded a loss of 5.9 billion dollars in Q1 2022, of which the great majority - 5.6 billion dollars - was related to investments in Grab, Aurora and Didi. The value of these investments has been revised downwards, which constitutes an unrealised loss for the company. A year earlier, Uber reported a loss of 108 million dollars at end-Q1 2021.
The group nevertheless said that it is pleased with its Q1 results, outperforming its quarterly guidance, with strong incremental margins.
Uber is targeting Q2 adjusted EBITDA of 240 to 270 million dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.