Uber Reports Net Loss of $2.6 bln for Q2

Uber reported a net loss of $2.6 billion for the second quarter, attributing $1.7 billion of the sum to investments and a revaluation of stakes in Aurora, Grab and Zomato.

At the same time, the company reported $382 million in free cash flow for the first time ever, beating market analysts' estimates. On Tuesday, shares of Uber closed the day up 18.9%.

Uber's CEO Dara Khosrowshahi says in a statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.

Uber relied heavily on growth in its delivery business during the pandemic, but its mobility segment surpassed Eats revenue in Q1 as riders began to take more trips. That trend continued during Q2. The mobility segment reported $3.55 billion in revenue, compared with delivery’s $2.69 billion.