“Curious why Uber shares just fell off a cliff? In a word, earnings.
“The American ride-hailing giant reported its second-quarter financial report today, just one day after key domestic rival Lyft reported its own.
“However, unlike Lyft’s results which included a revenue beat and slimmer losses than expected, Uber’s figures went the other way.
“Uber reported Q2 revenue of $3.17 billion, up just 14 percent from its year-ago quarter’s $2.79 billion in top line. Uber’s “adjusted net revenue” was even less impressive, growing just 12 percent from $2.57 billion in the year-ago second quarter to $2.87 billion in the most recent period.
“Analysts had expected the company to report $3.36 billion in unadjusted revenue. Uber missed.”
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