Uber (NYSE: UBER) reported Q2 EPS of ($1.02), $0.16 worse than the analyst estimate of ($0.86). Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.18 billion.

• Gross Bookings declined to $10.2 billion, down 35% year-over-year, or 32% on a constant currency basis, with Mobility Gross Bookings declining 73% and Delivery Gross Bookings growing 113% year-over-year, each on a constant currency basis.
• Revenue declined 29% year-over-year, or 27% on a constant currency basis. Mobility Revenue declined 67% year-over-year and Delivery Revenue grew 103% year-over-year.
• Adjusted Net Revenue (“ANR”) declined 33% year-over-year, Mobility ANR declined 66% year-over-year and Delivery ANR grew 162% year-over-year. YoY Growth % at constant currency & ex-Driver appreciation award was (37)% and with respect to Mobility and Delivery, (68)% and 163%, respectively. Adjusted Net Revenue and segment Adjusted Net Revenue excludes the impact of COVID-19 response initiatives.
• Net loss attributable to Uber Technologies, Inc. was $1.8 billion, which includes $131 million in stock-based compensation expense and $382 million in restructuring and related charges.
• Mobility1 Adjusted EBITDA delivered $50 million in profit, down $456 million year-over-year, and down $531 million quarter-over-quarter, and 6.3% margin as a percentage of Mobility ANR.
• Delivery1 Adjusted EBITDA was $(232) million, up $54 million year-over-year and up $81 million quarter-over-quarter.
• Adjusted EBITDA was $(837) million, down $181 million year-over-year, and $225 million quarter-over-quarter. Adjusted EBITDA excludes the impact of COVID-19 response initiatives.
• Unrestricted cash, cash equivalents and short-term investments were $7.8 billion.
• COVID-19 response initiatives had an impact on GAAP net loss of $48 million including an impact on GAAP revenue of $6 million and an impact on GAAP cost of revenue of $22 million and an impact on total operating expenses of $20 million. (details and reconciliation below)

“Our team continues to move at Uber speed to respond to the pandemic’s impact on our communities and on our business, leading our industry forward with new products and safety technologies, and harnessing the strong tailwinds driving exceptional growth in Delivery, with Gross Bookings growing 122 percent year-over-year excluding exited markets2,” said Dara Khosrowshahi, CEO. “We are fortunate to have both a global footprint and such a natural hedge across our two core segments: as some people stay closer to home, more people are ordering from Uber Eats than ever before.”

“Our Mobility segment generated $50 million in Adjusted EBITDA profit, despite a 73 percent year-over-year decline in Gross Bookings, on a constant currency basis,” said Nelson Chai, CFO. “Meanwhile, we improved our Delivery Adjusted EBITDA margin by 33 percentage points, and took quick and decisive action to remove over $1 billion in annualized costs across the entire company, reducing Corporate G&A and Platform R&D costs by over $150 million compared to last quarter. All this, in addition to our strong balance sheet, bolsters our continued confidence that we will achieve Adjusted EBITDA profitability before the end of 2021.”

For earnings history and earnings-related data on Uber (UBER) click here.