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Ubers Q3 Revenue Up 72% Over Last Year



Uber stock rose more than 11% on Tuesday after it reported its revenue in the third quarter was up 72% over the same period last year.
The company reported $8.34 billion in revenue, beating analyst expectations of $8.13 billion, but had a higher than expected net loss of $1.2 billion for the quarter.
The number of trips taken on the ride-sharing app grew by 19% to 1.95 billion for the quarter, more than 21 million trips per day.
The company said it expects gross bookings to grow 23% in the fourth quarter, to a 27% increase year over year.
The Uber Eats delivery service, meanwhile, saw $2.8 billion in revenue in the third quarter, a 24% increase over last year.