Uber Drives US$17.46 Billion In Revenue, US$496 Million Net Loss In 2021

Uber Technologies, Inc. (NYSE: UBER) released on Wednesday its fourth quarter and full-year 2021 financial results. The company posted US$17.46 billion in annual revenue, an increase from 2020’s revenue of US$11.14 billion.

This came from a total of gross bookings for the year of US$90.42 billion from 6.37 billion trips, up from last year’s US$57.90 billion from 5.03 billion trips.

However, with total costs of revenue and expenses higher than the revenue, the firm ended with an operating loss of US$3.83 billion compared to last year’s loss of US$4.86 billion.

This led to notching an annual net loss of US$496 million compared to a net loss of US$6.77 billion in the previous year. Calibrating for financial items including a US$1.17 billion stock-based compensation expense, adjusted EBITDA for the year came in at a loss of US$774 million, up from last year’s loss of US$2.53 billion.

For Q4 2021, the company had total gross bookings of US$25.87 billion leading to quarterly revenue of US$5.78 billion. These compare to Q3 2021’s US$17.15 billion gross bookings and US$3.17 billion revenue.

But still with costs and expenses higher than quarterly revenue, the firm ended with a quarterly operating loss of US$550 million compared to an operating loss of US$877 million for the same comparable period last year.

Due to a US$1.4 billion net pre-tax benefit relating to equity investments, the firm ended the quarter with US$892 million net income, up from a net loss of US$968 million last year. The quarterly net income translates to US$0.44 per diluted share.

Considering the net benefit and a US$334 million stock-based compensation expense during the quarter, adjusted EBITDA for Q4 2021 ended at US$86 million coming from a loss of US$454 million in the year-ago period.

The company also ended the year with US$4.30 billion in cash and cash equivalents, bringing the balance of current assets to US$8.82 billion. Current liabilities ended at US$9.02 billion.

The mobility firm expects in Q1 2022 to have total gross bookings of US$25 – US$26 billion and adjusted EBITDA of US$100 – US$130 million.

Uber last traded at US$40.19 on the NYSE.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Uber Faces Fine After Dutch Court Rules Drivers are Employees, not Contractors

Ride-hailing company Uber (NYSE: UBER) has lost a court battle in the Netherlands, which ruled...

Wednesday, September 15, 2021, 02:34:00 PM

Uber Q3 Earnings: Is Autonomous Driving A Risk?

Surprise surprise. We’ve got another set of disappointing Q3 tech earnings.  The latest culprit? Uber....

Monday, November 4, 2024, 05:57:00 PM

Uber “Currently Responding To A Cybersecurity Incident” While The 18-Year Old Hacker Openly Discusses How He Did It

Uber Technologies, Inc. (NYSE: UBER) said on Friday that it is “currently responding to a...

Friday, September 16, 2022, 10:14:00 AM

Uber and Lyft Face Mounting Driver Shortages as Demand for Travel Picks Up

With the US economy roaring back to life, a number of industries are getting prepared...

Tuesday, July 6, 2021, 02:36:00 PM

New Jersey Issues Lyft With $16 Million Tax Bill, Adding Further Pressure on Gig Economy Worker Classification Rift

Following the successful passing of Proposition 22 in California, which will see the continuation of...

Sunday, November 8, 2020, 01:45:00 PM