Uber Technologies Inc (NYSE:UBER) reported a Q1 loss of $2.94 billion, versus a year-ago loss of $1.01 billion. However, the company’s sales exceeded expectations.
The San Francisco-based ride-share service told investors Thursday Gross Bookings grew to $15.8 billion, up 8% year-over-year, or 10% on a constant currency basis, with Rides declining 3% and Eats growing 54% year-over-year, respectively, on a constant currency basis.
Revenue growth was 14% year-over-year, or 16% on a constant currency basis.
Adjusted Net Revenue growth year-over-year of 18%, or 19% on a constant currency basis. Adjusted Net Revenue and segment
Adjusted Net Revenue excludes the impact of COVID-19 response initiatives.
Net loss attributable to Uber Technologies, Inc. of $2.9 billion, which includes $277 million in stock-based compensation expense and pre-tax impairment write-downs of $2.1 billion. Net loss attributable to Uber Technologies, Inc. excluding the impairment write-downs, net of the tax benefit would have been $1.1 billion.
UBER shares gained $1.89, or 6.1%, to $32.82.
