After the post-market trading on Wednesday, August 4th, the American online car-hailing giant uber technologies $Uber Technologies (UBER.US)$ (uber) released its financial report for the second quarter of the 2021 fiscal year ending on June 30.
Despite total revenue and profits for the quarter being better than market expectations, the profit core indicator the company values - adjusted EBITDA - still recorded a loss, and the loss was higher than expected. Post-market trading on the US stock market fell 7%, with the stock price briefly falling below $39. If this continues to the next day's opening, it will hit the lowest point in several months since November last year. The financial report from yesterday stated that the competitor Lyft, which turned a profit for the first time in the second quarter, also dropped by 1%.
Uber fell the most on Wednesday, dropping more than 3% and closing down more than 2% at $41.81, a year-to-date decline of 18%, underperforming the S&P 500 index by more than 17%, and down nearly 35% from its all-time high of $64.05 on February 10, deeply mired in a technical bear market.
However, Uber surged 71.5% last year, significantly outperforming the S&P with a 16.3% gain, with a total ROI of nearly 44% over the past year, also higher than the S&P's total ROI of 35.4%. Its stock price has been declining continuously since May, as the market is concerned that recruiting gig drivers post-pandemic may impact profits. It is reported that major shareholder SoftBank of Japan is considering reducing its Uber stake by a third, which is also unfavorable for the latter's share price.
However, before the financial report was released, Wall Street was quite optimistic about the future trend of uber technologies. According to FactSet, as of the liberation of the 32