Uber Q1 2021 Earnings: Losses Down Thanks To ATG Unit Sale
By Sahil Gupta
1 mins read
Published on May 6, 2021
- Uber's loss was just $108 million in Q1 compared to $968 million in Q4
- These numbers were elevated because of the ATG unit sale to Aurora
- The Uber delivery business grew by 166 per cent in a year
Uber has reported its Q1 2021 earnings and its losses have dramatically reduced. From losing $968 million in the fourth quarter of 2020, it just lost $108 million in the first quarter of 2021. However, its earnings were boosted by a $1.6 billion sale of its self-driving car unit called ATG which was sold to Aurora. Regardless, Uber beat estimates by analysts. Overall, it reported $19.54 billion while it was expected to report $18.07 billion. However, this also means Uber's operating loss was still quite high at $1.5 billion. Its adjusted EBITA loss was $359 million which is an improvement of $95 million from the previous quarter.
"For the remainder of the year, I would remind you that delivery gross bookings year-over-year comparisons will become tougher as we continue to face significant forecasting uncertainty in predicting post-reopening consumer behaviour," CFO Nelson Chai said on a call with investors.
Uber's mobility gross bookings segment had revenues of $6.77 billion which was 38 per cent down from a year ago. Its delivery (gross bookings) business on the other hand is doing really well with revenues of $12.46 billion up 166 per cent from a year ago.
"Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings," CEO Dara Khosrowshahi said in a statement.
"We will continue to innovate and find new ways to deepen engagement with our customers, as the only global platform that helps you go wherever you need and get whatever you want," he added.
Last Updated on May 6, 2021
Great Deals on Used CarsView All Used Cars
- 9,800 km
- 46,630 km
- 17,459 km
- 53,232 km
- 29,000 km
- 32,400 km
- 85,500 km
- 73,810 km
- 36,800 km
- 65,400 km
-3736 second ago
The ministry aims to introduce free medical treatment for injured accident victims in the next three to four months
-2116 second ago
Greaves Electric Mobility has collaborated with Kedia Organisation and is setting up its first dealership in Teku, Kathmandu
-1298 second ago
With the launch slated for 2024, the Lamborghini Urus PHEV was spotted testing at the gruelling Nurburgring race track.
-901 second ago
The Urban SUV concept is the first in a line of 6 EVs, which the company says will be revealed toward the first half of 2024
44 minutes ago
CFMoto revealed a new mid-size in-line triple engine at EICMA 2023 and now the specifications of the engine have been revealed.
2 hours ago
India Kawasaki is all set to revive a popular motorcycle name at the upcoming India Bike Week 2023. Hint! It is likely to be a cruiser motorcycle, that was on sale in India many years ago.
4 hours ago
The Mercedes-Maybach GLS 600 was gifted to the actor by her husband, Vignesh Shivan on her birthday
4 hours ago
Hyundai has presented the Ioniq 5 to Shah Rukh Khan to commemorate the 25-year-long association with the brand. It will be the first electric vehicle in his car collection.
6 hours ago
The recall, initiated due to concerns over the manufacturing of certain components, aims to inspect and replace the affected parts
23 hours ago
Prices for the Aprilia RS 457 could be announced at India Bike Week 2023, while deliveries are likely to begin from early 2024 onwards
3 days ago
New tech moves the EV's reduction gear into the wheel hub allowing for more compact electric motors and greater space efficiency
28 days ago
The system allows passengers in both the front and rear seats to comfortably enjoy high-definition content while complying with driving and safety regulations
1 month ago
Uber India debuts 'Uber Camper' for India vs. Pakistan ICC World Cup 2023 showdown, winners can secure their spot for the match weekend, free of charge. Contest runs Oct 4-7.
1 month ago
The system auto-adjusts the windscreen to improve rider comfort and ease
2 months ago
Earlier we saw MG refresh the ZS EV which was even in contention for the carandbike awards EV of the year. So now, we have the Jaguar I-Pace In India.