Uber Loses on the Ride-sharing Front, Triumphs on the Food Delivery Front

Cockpit picture of person driving

Source: Unsplash | Photographer: Mak

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While the financial results of the ride-sharing company for Q2 2020 did beat Wall Street’s estimates, they were still approximately 29% weaker compared to the same period last year.

Shares plummeted with more than 2% shortly after the news. Let’s take a closer look at how Uber fared in the past three months:

 

– Total revenue: $2.24 billion vs. estimates of $2.18 billion

– Losses per share: $1.02 cents vs. estimates of 86 cents

– Revenue from booked rides: $3.05 billion vs. estimates of  $3.47 billion

Revenue from food deliveries: $6.96 billion vs. $6.57 billion

 

Uber reasoned that the weak bookings had to do with the government-imposed travel restrictions due to COVID-19, which led to a 73% decrease in rides for the period. At the same time, the company’s food delivery businesses skyrocketed by 113%.

According to CEO Dara Khosrowshahi, Uber’s ride-hailing service is recovering at varied rates across the world: in the past three months, bookings were down 50% to 85% in the U.S., but only about 35% in leading European markets like France, Spain, and Germany.


Upcoming reports

See the full list of upcoming earnings reports for 10 – 14 August in the tables below.

Monday, August 10 2020

Country of originCompany nameFiscal period
USAInovio Pharmaceuticals IncSecond quarter of 2020
USARCI Hospitality Holdings IncThird quarter of 2020
CanadaTilray IncSecond quarter of 2020
ChinaTencent Music Entertainment GroupSecond quarter of 2020
USAOccidental Petroleum CorpSecond quarter of 2020
CanadaCanopy Growth CorpFirst quarter of 2021
USAMarriott International IncSecond quarter of 2020
USARoyal Caribbean Cruises LtdSecond quarter of 2020
USALiberty Media CorpSecond quarter of 2020
GermanyPorsche Automobil Holding SESecond quarter of 2020
CanadaBarrick Gold CorpSecond quarter of 2020
United KingdomSuperdry PLCFull year 2020

Tuesday, August 11 2020

Country of originCompany nameFiscal period
USABroadridge Financial Solutions IncFourth quarter of 2020
USASysco CorpFourth quarter of 2020
ChinaJD.com IncSecond quarter of 2020
United KingdomPrudential PLCHalf year 2020
EgyptPetrofac LtdHalf year 2020
JapanSoftBank Group CorpFirst quarter of 2021
United KingdomInterContinental Hotels Group PLCInterim report for 2020
United KingdomDerwent London PLCHalf year 2020
AustriaRaiffeisen Bank International AGHalf year 2020
GermanyAurubis AGThird quarter of 2020

Wednesday, August 12 2020

Country of originCompany nameFiscal period
USALyft IncSecond quarter of 2020
USACisco Systems IncFourth quarter of 2020
United KingdomCapital & Counties Properties PLCHalf year 2020
GermanyEvotec SESecond quarter of 2020
GermanyLeoni AGSecond quarter of 2020
United KingdomAdmiral Group PLCHalf year 2020
United KingdomBalfour Beatty PLCHalf year 2020
AustriaWienerberger AGHalf year 2020
GermanyGEA Group AGHalf year 2020
GermanyE.ON SESecond quarter of 2020
GermanySalzgitter AGHalf year 2020
Kingdom of the NetherlandsABN Amro Bank NVSecond quarter of 2020

Thursday, August 13 2020

Country of originCompany nameFiscal period
USAApplied Materials IncThird quarter of 2020
ChinaAlibaba Group Holding LtdFirst quarter of 2021
USAJC Penney Company IncSecond quarter of 2020
GermanyDraegerwerk AG & Co KGaAHalf year 2020
United KingdomNational Express Group PLC
Half year 2020
United KingdomMurray International Trust PLCHalf year 2020
GermanyDeutsche Telekom AGSecond quarter of 2020
GermanySGL Carbon SESecond quarter of 2020
GermanyDeutsche Wohnen SESecond quarter of 2020
Germany1&1 Drillisch AGSecond quarter of 2020
GermanyHeidelberger Druckmaschinen AGFirst quarter of 2021
GermanyAareal Bank AGSecond quarter of 2020
GermanyLanxess AGSecond quarter of 2020
Kingdom of the NetherlandsAegon NVHalf year 2020
GermanyBilfinger SEHalf year 2020
GermanyRWE AGSecond quarter of 2020
GermanyK&S AGHalf year 2020
GermanyThyssenkrupp AGThird quarter of 2020
GermanyCeconomy AGThird quarter of 2020
GermanyTui AGThird quarter of 2020
SwitzerlandZurich Insurance Group AGSecond quarter of 2020

Friday, August 14 2020

Country of originCompany nameFiscal period
Kingdom of the NetherlandsFlow Traders NVHalf year 2020

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