Uber reports record loss in Q2 2019

uberRide-hailing giant Uber posted a record loss of $5.2 billion in the second quarter of the year.

Most of the loss, approximately $3.9 billion, was due to stock-based compensation expenses in connection with the company’s initial public offering. Excluding that one time stock-based compensation expense, Uber lost $1.3 billion in the quarter.

The loss per share (including those expenses) was $4.72. Revenue rose 14% in the quarter to $3.17 billion.

According to Yahoo Finance, analysts had (on average) forecast a loss of $2.03 per share on revenue of $3.31 billion.

Financial and Operational Highlights

Three Months Ended June 30,

(in millions, except per share amounts, and percentages)



% Change

Gross Bookings

$ 12,012

$ 15,756


Monthly Active Platform Consumers









$ 2,768

$ 3,166


Loss from operations 

$ (739)

$ (5,485)


Net loss attributable to Uber

$ (878)

$ (5,236)


Diluted net loss per common share

$ (2.01)

$ (4.72)


Adjusted Net Revenue

$ (2,574)

$ 2,873


Core Platform Contribution Margin (as a % of ANR)




Adjusted EBITDA 

$ (292)

$ (656)


Source: “Uber Reports Second Quarter 2019 Results”

Dara Khosrowshahi, CEO, said: 

“Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of last year. 

“In July, the Uber platform reached over 100 million Monthly Active Platform Consumers for the first time, as we become a more and more integral part of everyday life in cities around the world.”

Nelson Chai, Uber CFO, said:

“While we will continue to invest aggressively in growth, we also want it to be healthy growth, and this quarter we made good progress in that direction.

“In Q2, Adjusted Net Revenue grew 26% year-over-year in constant currency and excluding our Driver Appreciation Award, which is an acceleration from Q1. Adjusted EBITDA also improved meaningfully from Q1, driven by a $337 million sequential improvement in Core Platform Contribution.”

Uber’s stock dropped by more than 10% after the earnings announcement.