Uber CEO Attributes Lower-than-Expected 2Q Revenue to U.K. Accounting Change
Dow Jones
Aug 05
0939 ET - Uber posts revenue of $14.19 billion in 2Q, up 12% from a year ago but slightly below Wall Street models for $14.24 billion. CEO Dara Khosrowshahi on CNBC attributes the miss to a change in how Uber accounts for revenue in the U.K., "so I wouldn't call that a fundamental issue in any way," he says. At the same time, gross bookings jump 24% to $58.02 billion and adjusted earnings come in at 81 cents a share, both ahead of analyst expectations, according to FactSet. "The business continues to execute incredibly well," Khosrowshahi says. Uber is off 4% in early trading.
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