image: Uber

Uber has posted its financial results for the second quarter of this year, showing $3.17 billion in revenue, up 14% from the same period last year. The ride-hailing company recorded $5.2 billion in quarterly losses, although most of that ($3.9 billion) stems from employee stock-based compensation. Still, $1.3 billion in quarterly losses [minus the stock-based compensation] is a significant one.

Gross bookings for the quarter was $15.8 billion, up 31% from $12 billion in Q2 last year. Uber now has 99 million monthly active users, compared to 76 million in Q2 2018. Other key takes from Uber’s Q2 2019 results include:

• 1.7 billion trips during the quarter, up from 1.2 billion in Q2 18
• $11.7 billion in cash and cash equivalents as of Q2 end (June 30, 2019)
• $15 billion total liabilities (debt) as of Q2 end
• $3.1 billion quarterly R&D spend, compared to $365 million in the same period last year [a significant portion of that may be related to stock-based compensation]
• $1.2 billion sales and marketing spend, compared to $715 million in the same period last year
• $595 million Q2 revenue from Uber Eats, up 72% from $346 million in Q2 2018
• $3.4 billion Q2 gross bookings from Uber Eats, up 91% from $1.8 billion in Q2 2018

Uber’s Q2 results was released shortly after its closest competitor, Lyft, posted strong Q2 results but still with losses. In reaction to its quarterly results, Uber’s stock dipped 12% to $37.78 in after-hours trading, but later went up to around $43 (as of writing).

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