Uber Technologies Q4 Results Beat Wall Street, Shares Up

(RTTNews) - Shares of Uber Technologies Inc. (UBER) gained over 5% on extended trading session Thursday after the ride-hail service reported a fourth-quarter loss lower than analysts' estimates.

For the fourth quarter, Uber reported net loss of $1.10 billion or $0.64 per share, compared with last year's loss of $887 million or $1.98 per share. Analysts polled by Thomson Reuters estimated loss of $0.67 per share for the quarter.

Revenues grew 37% year-over-year to $4.07 billion from $2.97 billion. Analysts had a consensus revenue estimate of $4.06 billion.

Gross bookings for the quarter grew $4.0 billion year-over-year to $18.1 billion, representing 28% year-over-year growth, or 30% on a constant currency basis, with Rides and Eats growing 20% and 73% year-over-year, respectively, on a constant currency basis.

"2019 was a transformational year for Uber and I'm gratified by our progress, steadily delivering against the commitments we've made to our shareholders on our path to profitability," said Dara Khosrowshahi, CEO. "We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform."