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Uber Technologies Inc. said on Wednesday that fourth-quarter gross bookings were up 16% from the previous quarter, reflecting a continued recovery, but its revenue was below expectations.
Uber shares UBER,
were down more than 1.5% after-hours trading, having risen more than 6% in regular session to close at $ 63.18, an all-time high.
The company reported a fourth-quarter loss of $ 968 million, or 54 cents per share, compared to $ 1.1 billion, or 64 cents per share, the year before. His adjusted loss was $ 454 million, adjusted for stock-based compensation and more. Revenue fell to $ 3.17 billion from $ 3.75 billion in the quarter last year. Analysts polled by FactSet had forecast a loss of 53 cents a share on revenue of $ 3.45 billion.
In the fourth quarter, ride revenue fell to $ 1.47 billion from $ 3.1 billion, a 52% year-over-year decline. But delivery revenue jumped 224% to $ 1.36 billion, from $ 418 million the year before. Freight revenue rose 43% to $ 313 million, from $ 219 million in the fourth quarter of last year.
Analysts polled by FactSet expected transportation and delivery revenues of $ 1.76 billion and $ 1.49 billion, respectively.
For the full year, Uber reported a loss of $ 6.77 billion, or $ 3.86 per share, compared to a loss of $ 8.5 billion, or $ 6.81 per share, in 2019. revenue fell to $ 11.14 billion from $ 13 billion in 2019. Analysts polled by FactSet had forecast a loss of $ 6.8 billion, or $ 3.87 per share, on revenue of $ 12.5 billion.
Uber shares have risen nearly 23% so far this year. Like that of Lyft Inc. LYFT,
which on Tuesday announced fourth-quarter results, Uber stock has been on a winning streak lately. It has increased for nine of the past 10 days.
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