We define MAPCs as the number of unique consumers who completed a Mobility or New Mobility ride or received a Delivery meal or grocery order on our platform at least once in a given month, averaged over each month in the quarter. To opt in to receive investor email alerts, please enter your email address in the field below and select at least one alert option. Driver referrals are recorded in sales and marketing expenses, as they represent the receipt of a distinct service of customer acquisition for which there is evidence of fair value. See “Definitions of Non-GAAP Measures” and “Reconciliations of Non-GAAP Measures” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release. These amounts largely depend on our business decisions based on market conditions. Besides the political fight to preserve their business model, Uber has faced pandemic-related negative impacts to its main ride hailing business through most of 2020. Net loss attributable to Uber Technologies, Inc. was $1.1 billion in Q3 2020, which includes $183 million in stock-based compensation expense. Driver incentives. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. We want to hear from you. Includes costs that are not directly attributable to our reportable segments. Uber Technologies, Inc. Q3 2020 Earnings. “Freight Adjusted Net Revenue,” “ATG and Other Technology Programs Adjusted Net Revenue,” and “All Other Adjusted Net Revenue” (prior to the second quarter of 2020 our Other Bets segment) are equal to GAAP net revenue in all periods presented. Posted on November 5, 2020 It was an eventful week for Uber. © 2021 CNBC LLC. Slides Press Release 10-Q. Share. Uber is prepared to take its Prop 22 victory to the rest of the world. Excess Driver incentives are recorded in cost of revenue, exclusive of depreciation and amortization. Driver referrals refer to payments that we make to existing Drivers to refer new Drivers onto our platform. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Adjusted revenues were down 20% at $2.8 billion. Segment Adjusted EBITDA margin demonstrates the margin that we generate after direct expenses. Earnings Uber Technologies (NYSE:UBER) Earnings Information. Shares of Uber rallied mid-week after California voters approved Proposition 22, which allows ride-hail and delivery businesses to classify drivers as independent contractors not employees. Uber’s mission is to create opportunity through movement. Get this delivered to your inbox, and more info about our products and services. Adjusted Net Revenue (“ANR”). Comparative periods were not recast as the impact on our four operating and reportable segments was not material. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We define Adjusted Net Revenue as revenue (i) less excess Driver incentives, (ii) less Driver referrals and (iii) the addition of COVID-19 response initiative related payments for financial assistance to Drivers personally impacted by COVID-19 and Driver reimbursements for their cost of purchasing personal protective equipment. Data is a real-time snapshot *Data is delayed at least 15 minutes. He said Uber had improved its position in 11 of the top 15 markets in the United States during the third quarter including New York City, Chicago and Atlanta. We define Trips as the number of completed consumer Mobility or New Mobility rides and Delivery meal or grocery deliveries in a given period. Q2 2020 Earnings 5 Operating Metrics In Millions Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 55 103 111 99 103 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 737 1,658 1,907 1,677 1,770 Monthly Trips / MAPC 5.6 5.7 5.7 5.4 4.5 *Metrics exclude the impact of Eats India and other market exits. Mobility Adjusted EBITDA of $245 million, improved +$195 million quarter-over-quarter (-$386 million year-over-year), and delivered 17.9% margin as a percentage of Mobility ANR. The payments for financial assistance to Drivers personally impacted by COVID-19 and Driver reimbursement for their cost of purchasing personal protective equipment are recorded as a reduction to revenue. Adjusted Net Revenue and segment Adjusted Net Revenue excludes the impact of COVID-19 response initiatives. The company reiterated guidance that Uber expects to be profitable on an EBITDA basis by the end of 2021. 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