The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from discontinued operations, net of income taxes, (ii) net income (loss) attributable to non-controlling interests, net of tax, (iii) provision for (benefit from) income taxes, (iv) income (loss) from equity method investments, (v) interest expense, (vi) other income (expense), net, (vii) depreciation and amortization, (viii) stock-based compensation expense, (ix) certain legal, tax, and regulatory reserve changes and settlements, (x) goodwill and asset impairments/loss on sale of assets, (xi) acquisition and financing related expenses, (xii) restructuring and related charges and (xiii) other items not indicative of our ongoing operating performance, including COVID-19 response initiatives related payments for financial assistance to Drivers personally impacted by COVID-19, the cost of personal protective equipment distributed to Drivers, Driver reimbursement for their cost of purchasing personal protective equipment, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations. Uber reported its Q3 2020 earnings after the closing bell on Thursday, beating analysts’ expectations on solid growth from its Eats business.Still, the impact of the ongoing coronavirus pandemic continues to be a concern for Uber’s main Rides business, which fell short of analysts’ forecasts.. The company reiterated guidance that Uber expects to be profitable on an EBITDA basis by the end of 2021. Adjusted Net Revenue has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for revenue prepared in accordance with GAAP. For example, an UberPOOL ride with three paying consumers represents three unique Trips, whereas an UberX ride with three passengers represents one Trip. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? We also provide announcements regarding our financial performance, including SEC filings, investor events, press and earnings releases, and blogs, on our investor relations website (https://investor.uber.com/). Hello, visitor. SAN FRANCISCO--(BUSINESS WIRE)-- Uber shares dropped as much as 4% after-hours Thursday as the company reported third quarter revenue that missed Wall Street's expectations, but picked up during the company's earnings call when the CEO said there are early signs its core ride-hailing business would fully recover from the Covid 19 pandemic. We define Mobility Adjusted Net Revenue as Mobility revenue (i) less excess Driver incentives, (ii) less Driver referrals and (iii) the addition of COVID-19 response initiative related payments for financial assistance to Drivers personally impacted by COVID-19. Prior to the second quarter of 2020, the All Other (formerly our Other Bets segment) consisted of multiple investment stage offerings, primarily our New Mobility products that provide consumers with access to rides through a variety of modes, including dockless e-bikes and e-scooters. During the nine months ended September 30, 2020, we recorded an impairment charge of $1.7 billion, primarily related to our investment in Didi recognized during the first quarter of 2020. The company can also claim a big victory with Prop 22 in California. Data is a real-time snapshot *Data is delayed at least 15 minutes. Q3 2020 Earnings 2. Since its second-quarter report, Uber raised half a billion dollars in equity funding to fuel the growth of its logistics arm, Uber Freight. Certain of these other continuing business activities were migrated to our Mobility segment, whose prior period results were not restated because such business activities were immaterial. As a variety of health orders and border policies limited travel and commuting, however, Uber users ordered more meals for delivery via Uber Eats. Q3 Earnings Recap Uber Technologies reported Q3 earnings per share at $-0.62/share, which beat analyst predictions of $-0.65/share. The payments for financial assistance to Drivers personally impacted by COVID-19 and Driver reimbursement for their cost of purchasing personal protective equipment are recorded as a reduction to revenue. Gross Bookings declined to $14.7 billion, down 10% year-over-year, or 8% on a constant currency basis, with Mobility Gross Bookings declining 50% and Delivery Gross Bookings growing 135% year-over-year, respectively, on a constant currency basis. We believe that each segment’s Adjusted EBITDA margin is a useful indicator of the economics of our segments, as it does not include indirect Corporate G&A and Platform R&D. November 5, 2020 01:30 PM PT. The company reported its Q3 2020 earnings details today, and while the business is still reeling from COVID-19, there are a few spots that show that Uber is slowly rebounding after a … Our board and management find the exclusion of the impact of these COVID-19 response initiatives from Adjusted EBITDA to be useful because it allows us and our investors to assess the impact of these response initiatives on our results of operations. To supplement our financial information, which is prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we use the following non-GAAP financial measures: Adjusted Net Revenue; Mobility Adjusted Net Revenue; Delivery Adjusted Net Revenue; Adjusted EBITDA; and Adjusted EBITDA margin as a percentage of ANR, as well as, revenue and Adjusted Net Revenue growth in constant currency. Excess Driver incentives. Our board and management find the exclusion of the impact of these COVID-19 response initiatives from Adjusted Net Revenue to be useful because it allows us and our investors to assess the impact of these response initiatives on our results of operations. (1) Including $17 million and $25 million collaboration revenue from Toyota recognized in Q3 2019 and Q3 2020, respectively. Operating Highlights for the Third Quarter 2020. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Uber Technologies last posted its quarterly earnings data on November 5th, 2020. Supplemental Data. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our recurring core business operating results. Learn how earnings and deposits work when you drive with Uber. Uber Technologies UBER is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close. These risks, uncertainties and other factors relate to, among others: developments in the COVID-19 pandemic and the resulting impact on our business and operations, competition, managing our growth and corporate culture, financial performance, investments in new products or offerings, our ability to attract drivers, consumers and other partners to our platform, our brand and reputation and other legal and regulatory developments, particularly with respect to our relationships with drivers and delivery persons. Coupa announced its financial earnings from the third quarter, with revenue growing to a record $133 million, according to a press release late Monday.. Total revenue grew 31% year-over-year (YoY) despite the continued disruption from the COVID-19 pandemic. Uber's third-quarter earnings showed that its Eats business continues to thrive amid the coronavirus pandemic. 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