# Uber only loses 100 million dollars in Q1 2021 - Dara elated! Sees light "at end of tunnel".



## _Tron_ (Feb 9, 2020)

From CNBC










Uber beat estimates on the top line and dramatically improved its net losses in its first quarter but missed on revenue.

Shares initially gained in after-hours trading before dipping more than 4.5%.

Here’s how Uber did versus expectations:

*Loss:* 6 cents vs. 54 cents expected, according to a consensus of analysts surveyed by Refinitiv.
*Revenue:* $2.90 billion vs. $3.29 billion expected per Refinitiv.
It’s difficult for investors to compare year-over-year numbers from the company, as the Covid-19 pandemic began to take hold a year ago and severely restricted travel. However, ride-hailing companies are beginning to bounce back from their pandemic lows as coronavirus vaccines roll out and restrictions are eased.

Overall, Uber’s net loss was $108 million, a tremendous improvement from a $968 million loss in its fourth quarter of 2020. But that was largely due to a $1.6 billion gain from the sale of its self-driving unit, ATG. Uber’s operating loss was still high for the quarter at more than $1.5 billion.

Uber reaffirmed its expectation to reach profitability on an adjusted EBITDA basis by the end of this year.

Its adjusted EBITDA loss was $359 million, which improved by $95 million from the prior quarter. EBITDA refers to earnings before interest, taxes, depreciation and amortization.

The company said its mobility take rate is expected to decline about 20% in the second quarter.

“For the remainder of the year, I would remind you that delivery gross bookings year-over-year comparisons will become tougher as we continue to face significant forecasting uncertainty in predicting post-reopening consumer behavior,” CFO Nelson Chai said on a call with investors.

Here’s how Uber’s largest business segments performed in the first quarter of 2021:


*Mobility (gross bookings):* $6.77 billion, down 38% from a year ago
*Delivery (gross bookings)*: $12.46 billion, up 166% from a year ago
Delivery revenue also outperformed its core ride-hailing business at $1.7 billion, compared with $853 million. The company has relied on its delivery services to make up for lost transit during the pandemic. Uber said the Eats segment revenue was up 28% quarter over quarter.

“We’re finally seeing the light at the end of the tunnel,” CEO Dara Khosrowshahi said on a call with investors. “Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings.”

In an update to shareholders, the company said that merchants on Uber Eats exceeded 700,000 in the first quarter, with the additions of Mr. Beast Burger, Rite Aid and Smoothie King.

The company also entered into an agreement with Gopuff to offer more convenience-store and grocery items starting in June.

Ride-hailing trends are starting to improve in some markets, Khosrowshahi said, adding he’s “optimistic this trend should accelerate going forward.”

Uber is also facing an immediate and growing need for more drivers, struggling to meet demand following Covid vaccines and an easing of restrictions. The company said last month it would spend $250 million on a one-time stimulus aimed at getting drivers back on the road. If it can’t bring in enough drivers to meet demand, the company could face annoyed customers who are having to shell out more cash or it might even have to put out more incentives.

Uber said it has approximately 3.5 million drivers and couriers on its platform, up 4% quarter over quarter but still down 22% year over year.

Trips on the platform were flat quarter over quarter at 1.45 billion and 13% below the same quarter a year ago. The company said its continued growth in delivery trips is offsetting declines in its mobility unit.

Uber also faced pressure during the quarter in the U.K. after the nation’s Supreme Court upheld a ruling that its drivers are workers, not independent contractors.

The company said it took a $600 million hit to ride-hailing revenue “due to the accrual made for the resolution of historical claims in the UK relating to the classification of drivers.”

Classifying drivers as contractors allows the companies to avoid the costly benefits associated with employment, such as unemployment insurance. If a similar measure ends up passing in the United States, it could make it harder for them to reach profitability.

Executives said they believe there’s space in the Biden-Harris administration to have an open dialogue.


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## SHalester (Aug 25, 2019)

the important detail is Uber burned around a billion IN CASH during the most recent quarter. Down to around 5.6b in cash and near cash balances. going to come a time pretty soon they will need to do something about that burn rate....


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## observer (Dec 11, 2014)

Trips are down 22% from last year...
...


Was Covid this year or last year?

And, whatever happened to RECORD bookings?

I guess they didn't translate in to what really counts, rides.

Uber is spreading itself too thin by adding companies but not drivers.

My abuelita used to say,

El que mucho abarca, poco aprieta.


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## everythingsuber (Sep 29, 2015)

Think ubers bank balance being 1.1 billion less than the previous 1/4 as opposed to the earnings before interest, taxes, depreciation and amortization figure that Uber have put out tell the real story. The market may have noticed 🤔


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## SHalester (Aug 25, 2019)

everythingsuber said:


> that Uber have put out tell the real story.


and that by Dec 31 2021 that balance will be in the critical zone. Gotta stop the burn, or hit up investors. 

Always watch the cash balance.....


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## Gone_in_60_seconds (Jan 21, 2018)

SHalester said:


> the important detail is Uber burned around a billion IN CASH during the most recent quarter. Down to around 5.6b in cash and near cash balances. going to come a time pretty soon they will need to do something about that burn rate....
> 
> View attachment 594262


Cash flow is also important. Their revenue especially in rideshare has declined. A money losing company cannot continue to lose money forever, if revenues don't increase every quarter. 2021 will be key, let's see if they will ever reach profitability. They don't even have enough drivers, because the pay sucks. And ,their whole approach to increasing profitability is to take more and more from the drivers by cutting rates and passing on costs like background checks to drivers. 

And, they betrayed the california drivers. This is an example of how they will increase profitability. Stealing the surge from the drivers and paying base rates. 

A morally bankrupt company. LOL


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## _Tron_ (Feb 9, 2020)

Gone_in_60_seconds said:


> Cash flow is also important. Their revenue especially in rideshare has declined. A money losing company cannot continue to lose money forever, if revenues don't increase every quarter. 2021 will be key, let's see if they will ever reach profitability. They don't even have enough drivers, because the pay sucks. And ,their whole approach to increasing profitability is to take more and more from the drivers by cutting rates and passing on costs like background checks to drivers.
> 
> And, they betrayed the california drivers. This is an example of how they will increase profitability. Stealing the surge from the drivers and paying base rates.


It seems so. They are sending many of us promo after promo. Great incentives, but the perks are clearly temporary. A carrot, on the end of an always moving stick.


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## goneubering (Aug 17, 2017)

I’ll believe this when I see it!!!!

*

Uber reaffirmed its expectation to reach profitability on an adjusted EBITDA basis by the end of this year.*


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## Igimba331999 (Oct 12, 2020)

If they reach profitability by the end of the year, it will be by screwing the drivers. They are planning on paying incentives this quarter and getting the new drivers signed up, then SLASHING our pay in the next quarter. I love how they have to explain how "the keep" is only 20% when they have claimed in the past that drivers get over 80% of trip fees. Hell, they don't even give us the larger share on some trips AND they include our tips in the calculation. If the total charge to pax is $10 and the pax tips $5 on top, they will give us $3 for the trip and claim we got 80% of the trip because of the tip being factored in. They have done it to me time and time again.


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## Westerner (Dec 22, 2016)

_Tron_ said:


> Uber is also facing an immediate and growing need for more drivers, struggling to meet demand following Covid vaccines and an easing of restrictions. The company said last month it would spend $250 million on a one-time stimulus aimed at getting drivers back on the road. If it can’t bring in enough drivers to meet demand, the company could face annoyed customers who are having to shell out more cash or it might even have to put out more incentives.


Uber offered me $100 just to do 3 rides if I would come back (I haven't driven since Nov). I find this amazing since my driving average rarely exceeded 15 hours a week. They must really be desperate. I don't care, I'm done with them and there's no way in hell I'd ever do delivery.


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## Kurt Halfyard (Dec 13, 2017)

The crazy thing here is that their stock price is still USD$7 above the IPO price. How is that possible?


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## 25rides7daysaweek (Nov 20, 2017)

_Tron_ said:


> From CNBC
> 
> View attachment 594256
> 
> ...


Go directly INTO the light dara...


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## 25rides7daysaweek (Nov 20, 2017)

Westerner said:


> Uber offered me $100 just to do 3 rides if I would come back (I haven't driven since Nov). I find this amazing since my driving average rarely exceeded 15 hours a week. They must really be desperate. I don't care, I'm done with them and there's no way in hell I'd ever do delivery.


Well just go give the rides ya goofball
Its a $33 surge on each of 3 rides
You can still quit again LOL


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## Fusion_LUser (Jan 3, 2020)

Igimba331999 said:


> If they reach profitability by the end of the year, it will be by screwing the drivers. They are planning on paying incentives this quarter and getting the new drivers signed up, then SLASHING our pay in the next quarter. I love how they have to explain how "the keep" is only 20% when they have claimed in the past that drivers get over 80% of trip fees. Hell, they don't even give us the larger share on some trips AND they include our tips in the calculation. If the total charge to pax is $10 and the pax tips $5 on top, they will give us $3 for the trip and claim we got 80% of the trip because of the tip being factored in. They have done it to me time and time again.


I'm not so sure Uber and Lyft will win the "new driver" battle to get new drivers. With gas prices going up like crazy, even before the true busy season and plenty of free government cheese the kind of people who would respond to Uber and Lyft offers just are not out there in numbers.

Uber and Lyft will have to settle for their current desperate ants who drive in the middle of the night looking to pick up hookers going home or willing to do a long pickup at the AP only to cancel rides because they are just too smart to do an actual paying ride.


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## Westerner (Dec 22, 2016)

25rides7daysaweek said:


> Well just go give the rides ya goofball
> Its a $33 surge on each of 3 rides
> You can still quit again LOL


I just replaced my car. I’d have to register it with Uber and per Colorado law get it inspected for rideshare. My insurance now no longer covers rideshare, and so on. Just isn’t worth it.


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## tohunt4me (Nov 23, 2015)

SHalester said:


> the important detail is Uber burned around a billion IN CASH during the most recent quarter. Down to around 5.6b in cash and near cash balances. going to come a time pretty soon they will need to do something about that burn rate....
> 
> View attachment 594262


See !?!? Shuffling INCREASES UBER GROSS BOOKINGS !


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## tohunt4me (Nov 23, 2015)

goneubering said:


> I’ll believe this when I see it!!!!
> 
> 
> 
> *Uber reaffirmed its expectation to reach profitability on an adjusted EBITDA basis by the end of this year.*


DID THEY ALSO REAFFIRM " FLYING CARS "? AGAIN . . .


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## 25rides7daysaweek (Nov 20, 2017)

Westerner said:


> I just replaced my car. I’d have to register it with Uber and per Colorado law get it inspected for rideshare. My insurance now no longer covers rideshare, and so on. Just isn’t worth it.


Yea if yer done driving period
i suppose its a no go even for the bonus
Its not enough to tempt you?


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## SHalester (Aug 25, 2019)

Gone_in_60_seconds said:


> Cash flow is also important.


kinda what I said. Not just important, but MOST important. NO cash = lights go out. Uber either has to arrest the cash burn rate of over a billion a quarter or get new funding from investors. Like by December....or else.....


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## KevinJohnson (Mar 23, 2020)

Calm down everyone. Dara still got his 45 million dollar bonus.


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## goneubering (Aug 17, 2017)

tohunt4me said:


> DID THEY ALSO REAFFIRM " FLYING CARS "? AGAIN . . .


I don’t know but would guess yes.


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