The company reported a 16% decline in its Q4 2020 revenue to $3.16bn compared to $3.74bn revenue in the same quarter of the previous year
The Uber app. (Credit: Uber Technologies Inc.)
Uber Technologies has reported a net loss of $968m, or $0.54 per diluted share, for the fourth quarter of 2020, compared to a net loss of $1.09bn, or $.064 per diluted share, for the same quarter of 2019.
The Q4 2020 net loss included a stock-based compensation expense of $236m, said the US-based technology company, which is engaged in providing ride-hailing and food delivery services among others.
Uber Technologies reported a 16% decline in its Q4 2020 revenue to $3.16bn compared to $3.74bn revenue in the same quarter of the previous year.
The company’s gross bookings for the reported quarter were down to $17.15bn compared to $18.13bn reported in the corresponding quarter of 2019.
Its ride-hailing business reported a 52% decline in revenue for Q4 2020 to $1.47bn from $3.05bn made in Q4 2019. The company’s delivery service business had a 224% increase in Q4 2020 revenue to $1.35bn compared to $418m reported in the fourth quarter of the previous year.
The freight business of Uber Technologies saw a 43% increase in its Q4 2020 revenue to $313m from $219m made in Q4 2019.
For the full year 2020, the company reported a net loss of $6.76bn compared to a net loss of $8.5bn for 2019.
Uber Technologies saw a 14% dip in revenue in FY20 at $11.13bn compared to $13bn in FY19.
Gross bookings for FY20 were down by 11% to $57.9bn compared to $65bn in FY19.
Uber Technologies CEO Dara Khosrowshahi said: “While 2020 certainly tested our resilience, it also dramatically accelerated our capabilities in local commerce, with our Delivery business more than doubling over the year to a nearly $44 billion annual bookings run-rate in December.
“With two global businesses stitched together by world-class tech and increasingly valuable membership programs, we are more focused than ever on making people’s lives a little bit easier – helping them go wherever they want and get whatever they need.”
In 2020, Uber Technologies acquired Cornershop and Postmates, while selling some of its businesses like Advanced Technologies Group (ATG) and Jump.
Earlier this month, Uber Technologies signed a stock-cash deal worth about $1.1bn to acquire US-based alcohol-delivery service Drizly.