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Prior to its initial public offering this year, Uber announced a net loss of $ 865 million in the fourth quarter. This figure was facilitated by a tax benefit that allowed the company to record a net loss of $ 1.2 billion during the period. On an adjusted pro forma basis, Uber's net loss in the last quarter of 2018 was $ 768 million.
Figures are a kind of improvement. The company reported a pro forma net loss of $ 939 million in the previous third quarter of 2018, but also reported a lower net loss before tax of $ 971 million. In any case, Uber's heavy losses continued during the quarter.
At the same time, Uber's adjusted EBIDTA losses were $ 842 million, an increase of 88% year-over-year and 60% over the third quarter. In the prior quarter, Uber's adjusted EBITDA losses were $ 527 million. These increased losses can be attributed to increased competition and significant investments in larger bets such as micromobility and Elevate, for example.
In the fourth quarter of 2018, gross bookings (the amount collected before paying drivers) increased 11% qoq to $ 14.2 billion, while revenue increased 2% qoq to $ 3 billion. USD.
Uber's gross bookings increased by 37% and revenues by 24%. But as a percentage of gross bookings, revenues dropped to 21.3%. These figures exclude the impact of SEE and Russia.
- GAAP income: $ 3.0 billion
- Up to 24% YoY
- Up to 2% QOQ
- Revenue as a percentage of gross bookings decreased by 190 basis points to 21.3%
Compared to full-year 2017, Uber's gross bookings increased by 45% to $ 50 billion in 2018. This resulted in an increase in GAAP revenues of 43% over 2017, to reach $ 11.3 billion. Losses also decreased (pbaded) from $ 2.2 billion in Adjusted EBITDA in 2017 to $ 1.8 billion in 2018. That's still a lot of money, but overall it shows positive signs that Uber is going in the right direction.
"Last year was our best year and the fourth quarter set a new engagement record on our platform," said Uber Chief Financial Officer, Nelson Chai, in a statement. . "In 2018, our ridesharing business has maintained its leadership in every region we serve, Uber Freight has gained popularity in the United States, JUMP bikes and electric motorcycles are en route to more than a dozen cities and we believe that Uber Eats has become the largest online food delivery business out of China, based on gross bookings.
Other key statistics for the fourth quarter of 2018 from Uber:
- Gross cash: $ 6.4 billion in unrestricted cash ($ 4.8 billion at the end of the third quarter of 2018, $ 4.4 billion in the fourth quarter of 2017)
- Adjusted EBITDA margin: -5.9% of gross bookings (-4.1% in the third quarter of 2018)
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