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Uber lost over $5 billion in one quarter, but don’t worry, it gets worse

Geekz Snow 2019-08-08

Uber just reported its second quarterly earnings ever as a public company, and hoo boy!

That’s billion with a “b.”

Lyft, which reported its earnings Wednesday, fared better but still posted a loss of $644 million during the quarter.

The numbers for both companies look a lot better when adjusted for things like amortization of intangible assets and stock-based compensation for employees post-IPO.

Indeed, Uber’s stock price was up most of the day Thursday thanks to Lyft’s expectation-beating earnings report: $867 million in revenue, up 72 percent from the year before.

It’s certainly Uber’s largest ever reported loss.

Uber just reported massive losses that were larger than Wall Street expected — and the stock is sinking

Geekz Snow 2019-08-08

Uber on Thursday reported second-quarter earnings that widely missed Wall Street expectations.

The ride-hailing giant lost $4.72 per share on revenues of $3.17 billion.

A big chunk of Uber's massive $5.24 billion loss was because of stock-based compensation from its initial public offering earlier this year.

Follow Uber's stock in real time here.

Here are the important numbers:

Earnings per share (GAAP): -$4.72 versus -$3.23 expected

Uber is about to report its second-quarter performance. The ride-hailing giant likely lost $5 billion in 3 months.

Geekz Snow 2019-08-08

Uber is set to report its second-quarter earnings after the closing bell Thursday.

Analysts expect the company to report a loss of $5 billion on $3 billion in revenues.

Those steep losses likely won't be a big detractor, so long as the company is still growing.

Here's what analysts are expecting.

Uber is set to report its second-quarter earnings on Thursday afternoon, and investors are bracing for yet another period of heavy losses from the ride-hailing giant.

Here's what analysts are expecting, according to a Bloomberg poll:

Lyft is raising prices — and it's going to hurt when you need it most

Geekz Snow 2019-08-08

The company reported second-quarter earnings that blew past Wall Street expectations, and the fare hikes will likely help that continue.

Lyft fares are getting more expensive, the company admitted Thursday, and the price increases are likely going to hurt your wallet when you most need a ride.

"Our guidance incorporates modest price adjustments that went live towards the end of June," Brian Roberts, Lyft's chief financial officer, told investors on a conference call following the company's second quarter earnings that handily topped expectations.

Read more: A 'warrior's warrior': Why insiders say the first-time CFO running Lyft's $20 billion IPO is the perfect fit

"More specifically, we began to adjust prices on select routes and in select cities based on costs and demand elasticities."

Lyft is likely not going to raise prices on routes where people might be dissuaded to take another form of transportation.

Lyft says ride-hailing price war with Uber is easing up

Geekz Snow 2019-08-07

(Reuters) — Lyft on Wednesday said a price war with rival Uber was easing, boosting shares of both companies and allowing Lyft to raise its outlook for the year and forecast a faster path to profitability.

That sent Lyft shares up 5% and shares of Uber up 3.8% in after-hour trade.

“We believe these price adjustments are an industry trend,” Chief Financial Officer Brian Roberts said on a call with analysts.

He said 2018 was likely the peak of losses for Lyft, an improvement from the company’s previous target of reporting its biggest loss this year.

Lyft shares temporarily turned negative after it announced plans to bring forward its lock-up period – the time after a public offering in which large shareholders are prohibited from selling shares – to Aug. 19 from Sept. 24.

Lyft estimated that about 257.6 million shares could become eligible for sale when the trading restrictions ended.

Lyft is raising prices — and it's going to hurt when you need it most

Geekz Snow 2019-08-08

The company reported second-quarter earnings that blew past Wall Street expectations, and the fare hikes will likely help that continue.

Lyft fares are getting more expensive, the company admitted Thursday, and the price increases are likely going to hurt your wallet when you most need a ride.

Read more: A 'warrior's warrior': Why insiders say the first-time CFO running Lyft's $20 billion IPO is the perfect fit

"More specifically, we began to adjust prices on select routes and in select cities based on costs and demand elasticities."

Lyft is likely not going to raise prices on routes where people might be dissuaded to take another form of transportation.

Lyft says ride-hailing price war with Uber is easing up

Geekz Snow 2019-08-07

That sent Lyft shares up 5% and shares of Uber up 3.8% in after-hour trade.

“We believe these price adjustments are an industry trend,” Chief Financial Officer Brian Roberts said on a call with analysts.

He said 2018 was likely the peak of losses for Lyft, an improvement from the company’s previous target of reporting its biggest loss this year.

Lyft estimated that about 257.6 million shares could become eligible for sale when the trading restrictions ended.

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