Uber Q2 Adj. EBITDA Rises, Revenue Up 17% On Constant Currency Basis; Stock Up

(RTTNews) - Uber Technologies, Inc. (UBER) reported second-quarter net income to company of $394 million compared to a loss of $2.60 billion, prior year. Profit per share was $0.18 compared to a loss of $1.33. The company noted that its result included a $386 million benefit primarily due to net unrealized gains related to the revaluation of Uber's equity investments. On average, 31 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.01, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $916 million, up 152%.

Second quarter revenue increased 14% to $9.23 billion from $8.07 billion, last year. Analysts on average had estimated $8.46 billion in revenue.

Gross bookings grew 16% year-over-year to $33.6 billion, or 18% on a constant currency basis. Mobility gross bookings were $16.7 billion, up 25% or 28% constant currency. Delivery gross bookings were $15.6 billion, up 12% or 14% constant currency. Trips grew 22% to 2.3 billion, or approximately 25 million trips per day on average.

For third quarter, the company expects: gross bookings of $34.0 billion to $35.0 billion, and adjusted EBITDA of $975 million to $1.025 billion.

The company's unrestricted cash, cash equivalents, and short-term investments were $5.5 billion at the end of the second quarter.

Shares of Uber Technologies are up 4% in pre-market trade on Tuesday.

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