The company reported total revenue of $3.10 billion, at the top end of its preliminary estimates for the quarter.
Uber reported gross bookings for the quarter of $14.65 billion, up 34% from the same period in 2018. Gross bookings measures the total dollar value paid for its services including taxes, tolls and fees, but not tips. Uber grew its monthly active platform consumers 33% from last year's quarter to 93 million., Uber reported a negative core platform contribution margin, defined as the amount of profit it makes from its core platform business divided by adjusted net revenue.
Growth for Uber Eats can be costly for the company, however, since unlike ride sharing, Uber must pay not just the driver but also the restaurant. Uber Eats' take rate, which the company defines as adjusted net revenue as a percentage of gross bookings, was 7.8%.
Source: News Formal (newsformal.com)
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