Back to News and eventsUber Reports SecondQuarter 2019 ResultsAugust 08, 2019SAN FRANCISCO--(BUSINESS WIRE)-- Uber Technologies, Inc. (NYSE: UBER) today announced financial resultsfor the quarter ended June 30, 2019.“Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constantcurrency, compared to the second quarter of last year,” said Dara Khosrowshahi, CEO. “In July, the Uber platformreached over 100 million Monthly Active Platform Consumers for the first time, as we become a more and moreintegral part of everyday life in cities around the world.”Financial and Operational Highlights Three Months Ended June 30,(in millions, except per share amounts, and percentages) 2018 2019 % ChangeGross Bookings $12,012 $15,756 31%Monthly Active Platform Consumers (“MAPCs”) 76 99 30%Trips 1,242 1,677 35%Revenue $ 2,768 $ 3,166 14%Loss from operations $(739) $ (5,485) **Net loss attributable to Uber Technologies, Inc. $(878) $ (5,236) **Diluted net loss per common share $ (2.01) $ (4.72) (135)%Adjusted Net Revenue (“ANR”) $ 2,574 $ 2,873 12%YoY % Growth at constant currency & ex-Driver appreciation award 26%Core Platform Contribution Margin (as a % of ANR) 14.7% 8.2% **Adjusted EBITDA $(292) $(656) (125)%Q2 2019 includes a $298 million driver appreciation award made in connection with our initial public offering.Q2 2019 includes $3.9 billion of stock-based compensation expenses, primarily due to RSU expenserecognition in connection with our initial public offering.“Adjusted Net Revenue,” “YoY % Growth at constant currency & ex-Driver appreciation award” and “AdjustedEBITDA” are non-GAAP measures as defined by the Securities and Exchange Commission (the “SEC”). See“Definitions of Non-GAAP Measures” and “Reconciliations of Non-GAAP Measures” sections herein for anexplanation and reconciliations of non-GAAP measures used throughout this release.** Percentage not meaningful.“While we will continue to invest aggressively in growth, we also want it to be healthy growth, and this quarter wemade good progress in that direction,” said Nelson Chai, CFO. “In Q2, Adjusted Net Revenue grew 26% year-over-year in constant currency and excluding our Driver Appreciation Award, which is an acceleration from Q1. AdjustedEBITDA also improved meaningfully from Q1, driven by a $337 million sequential improvement in Core PlatformContribution.”Other Highlights37% year-over-year growth of Gross Bookings in Q2 2019 at constant currency: Foreign currency negativelyimpacted reported gross bookings growth by 6% in Q2 2019. Additional data on these trends can be found in thesupplementary slide presentation available on our website.(1), (2)(1), (2)(1), (3)(3)(3)(1) (2) (3) FinancialsNews and eventsGovernanceFAQ and resourcesStrong adoption of Uber Rewards: Available nationwide in the United States as of May 2019. Enrolledconsumers earn points and rewards for Ridesharing and Eats and are twice as likely as unenrolled consumers tobe active on both Rides and Eats.Expansion of Driver rewards and benefits: More than 50% of drivers in the United States are enrolled in UberPro, our driver rewards program. Outside the US, Uber Pro officially launched in Mexico in early July and is nowavailable to more than half of drivers in Mexico following a successful pilot. In parallel, we announced in Mexicoour first driver debit card outside the US, in partnership with BBVA. Uber Pro was also launched on July 1 inthree cities in Brazil.Improving consumer Ridesharing selection: In July 2019, we launched Uber Comfort, which is an affordableupgrade to our UberX product offering. Uber Comfort offers higher-rated drivers, newer and larger vehicles, andrider preferences, similar to premium economy on airlines. Uber Comfort is live in 44 cities in the United Statesand Canada and in eight cities in Australia as of early July. We continue our efforts to enhance the high-endUber Black experience with enhancements including quiet mode, temperature control, and luggage help.Progress in two of Ridesharing’s priority markets: Germany was one of our fastest-growing Ridesharingcountries during Q2 2019, as we are now operating in five large cities as of the end of the quarter. Meanwhile,Buenos Aires, Argentina has become the fifth largest city in the world based on trips, as its citizens takeadvantage of Ridesharing’s convenience and the local income-earning opportunities provided by becoming adriver.Uber Eats strengthens marketplace liquidity: In Q2 2019, Uber Eats Monthly Active Platform Consumers(MAPCs) grew over 140% year-over-year. Over 40% of new Eats consumers had never used Uber’s platformbefore. Uber Eats restaurant selection continues to improve, reaching 320,000 restaurant partners at the end ofQ2 2019. New delivery fees (service and small-basket fees) resulted in improved Adjusted Net Revenue takerates quarter-over-quarter.Uber Freight continues to add new customers: Uber Freight added new shipping customers across the...
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