Uber reports Q2 2018 financials, growth starts to slow

Uber CEO Dara
Khosrowshahi.
Getty

• Uber
  
  
  gave CNBC its second-quarter fianancials.
  
•  Uber’s Q2 net revenue was $2.7 billion, up 51%
  from the same quarter last year, and gross bookings were $12
  billion, up 41% year-over-year.
• That represents a slight slowdown in growth from
  Q1.

Uber is cruising toward $10 billion in revenue this year, despite
a recent slump in growth, according to the company.

On Wednesday, Uber provided its
second quarter financials to CNBC, reporting that the company
generated $2.7 billion in net revenue, up 51% from the same
quarter last year. Gross bookings were $12 billion, an increase
of 41% year-over-year.

Uber’s revenue and bookings growth dropped off slightly since Q1.

Here’s what Uber told
CNBC:

• Net revenue for Q2: Uber reported $2.7
  billion, up 51% from the same quarter last year. At that rate,
  Uber is on track for $10 billion in revenue this year.
• Gross bookings for Q2: Uber reported $12
  billion, up 41% year-over-year.
• Adjusted net loss for Q2: Uber reported
  $659 million, up from $577 million in Q1. There’s no standard
  definition for how a company comes up with this “adjusted”
  figure.
• Gross cash on hand for Q2: Uber self-reported
  $7.3 billion at the end of the June quarter. That’s an increase
  of $1 billion from the quarter before.

Uber is a private company, which means the company volunteers
these financials to its own investors on a regular basis, but it
does not publicly report them in a government filing every
quarter. However, in the past, it has shared these figures with
the media. 

Uber CEO Dara Khosrowshahi has said that he sees the
startup on track for a 2019 IPO. It was last valued at $69
billion by private-market investors, though SoftBank recently

purchased shares in the company at a $48 billion
valuation. 

Read the full CNBC article here>>