Uber reported 10% third-quarter revenue growth and a 35% rise in non-GAAP earnings per share, while net income fell sharply against a year-earlier quarter that included large tax and investment gains.
In results released Wednesday, Uber put revenue at $14.766 billion for the quarter and non-GAAP earnings per share at $0.88. The figures increased 10% and 35%, respectively, from a year earlier. Uber said changes in its business model accounted for an eight-point drag on reported revenue growth.
The platform recorded $59.8 billion in Gross Bookings, up 20% from a year earlier. Trips totaled 4.1 billion, a 16% increase. Uber said Gross Bookings growth had exceeded 20% for five consecutive quarters.
Net income attributable to Uber was $512 million, and diluted earnings per share were $0.25; both were down 92% from a year earlier. The year-earlier quarter included a $4.9 billion tax benefit and a $1.5 billion pretax gain from investment revaluations. This quarter’s net income included a $476 million pretax loss from revaluations, leaving the two periods with different tax and investment effects.
For the fourth quarter, Uber forecast non-GAAP EPS of $0.95 to $0.99, which it said would amount to year-over-year growth of 34% to 39%. It projected Gross Bookings of $63.25 billion to $65.25 billion, or growth of 18% to 22% on a constant-currency basis. The company said its outlook assumed about a one-percentage-point foreign-exchange headwind to reported growth.
