Today after the bell U.S. ride-hailing giant Uber reported its second-quarter financial results. The company’s numbers come a day after its domestic rival, Lyft, shared its own Q2 earnings.
Notably while Lyft managed to generate positive adjusted EBITDA in the second quarter, Uber did not. However, Uber did generate positive net income of $1.14 billion in the quarter thanks to its investments in other companies like Didi and Aurora Innovation.
From the top, Uber’s gross bookings totaled $21.9 billion in the second quarter, up 114% compared to the year-ago period. That gross platform spend resulted in $3.93 billion in revenues at Uber, up 105% from the company’s $1.91 billion