Uber Q4 Results Miss Expectations; Remains on Track to Meet Profit Goals By Investing.com

By Yasin Ebrahim

Uber (NYSE:UBER) Tech said Wednesday it remained on track meeting its profit goals this year despite reporting fourth-quarter results that fell short of expectations on a pandemic-fueled hit to its core ride sharing business.

Uber Technologies (NYSE:UBER) fell more than 2% in after-hours trade.

Uber Tech announced a loss per share of 54 cents on revenue of $3.17 billion. Analysts polled by Investing.com anticipated a per-share of 53 cents on revenue of $3.61B.

Gross bookings fell 5% to $17.15 billion, missing consensus estimates for $17.20 billion, paced by a 24% decline in trips and a 16% decline in monthly active platform customers.

Looking ahead, the company said it remains “well on track to achieving our profitability goals in 2021.”

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