Uber Technologies narrowed its losses in the fourth quarter, as food delivery business strengthened.
The ride-hailing company’s net loss per share attributable to holders came in at- 54 cents, compared to -64 cents a year earlier. Analysts polled by FactSet had anticipated a loss of -53 cents a share.
Revenue for the quarter was $3.17 billion, lower than $3.75 billion a year earlier. Analysts surveyed by FactSet had expected about $3.4 billion.
“While 2020 certainly tested our resilience, it also dramatically accelerated our capabilities in local commerce, with our delivery business more than doubling over the year to a nearly $44 billion annual bookings run-rate in December," Chief Executive Dara Khosrowshahi said in a statement.