After a mixed 2019, Uber has made significant changes throughout the quarter to be profitable in 2021:
Q2 in which it experienced a $5 billion loss and a record low revenue growth rate. Here are the biggest takeaways from its latest earnings:Uber accelerated revenue growth in its core ride-hailing segment after more than a year of stagnation. In Q3 2019, Uber's ride-hailing segment's net adjusted revenue jumped 23% year-over-year to almost $2.9 billion.
Its digital freight brokerage Uber Freight and food delivery service Uber Eats experienced continued growth, but at a cost. Uber Freight generated $218 million in adjusted net revenue, a 105% YoY increase, while Uber Eats earned $392 million, also up 105% YoY. Despite their growth, both segments still posted losses, with Uber Freight losing $81 million and Uber Eats losing $316 million.
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