Uber Technologies Inc (NYSE: UBER) stock fell over 4.8% on Feb 11^th, 2021 after-hours session (Source: Google finance) after the company reported of net loss of $968 million, in the fourth quarter of FY 20, narrowing from a loss of nearly $1.1 billion, at the same time in the prior year. The latest loss also reflects an improvement from the quarters earlier in the pandemic. The company’s ride-hailing service posted the revenue of $1.48 billion in the fourth quarter, which is a 52% decline from the prior year. The revenue in Uber’s food-delivery service more than tripled from the previous year to $1.37 billion. Uber’s adjusted loss before interest, taxes, depreciation and amortization had also narrowed in the fourth quarter to $454 million compared with a loss of $615 million in the year-earlier quarter. The company’s adjusted Ebitda loss has beaten Wall Street’s forecast. The analysts surveyed by FactSet had projected on average an adjusted Ebitda loss of $507 million in the fourth quarter. Uber now expects to become profitable by this measure by the end of this year.

Moreover, Gross Bookings rose 16% quarter-over-quarter to $17.2 billion, down 5% year-over-year or 4% on a constant currency basis, with Delivery Gross Bookings growing 128% YoY and Mobility Gross Bookings declining 47% YoY, respectively, on a constant currency basis. Mobility Adjusted EBITDA of $293 million, up $48 million QoQ and down $449 million YoY, and represented 19.9% margin as a percentage of Mobility Revenue. Delivery Adjusted EBITDA loss of $(145) million, which has decreased by $38 million QoQ and by $316 million YoY, and represented (10.7)% margin as a percentage of Delivery Revenue. The company’s unrestricted cash, cash equivalents and short-term investments were $6.8 billion at the end of the fourth quarter.

UBER in the fourth quarter of FY 20 has reported the adjusted loss per share of 54 cents, missing the analysts’ estimates for the adjusted loss per share of 53 cents, according to the Zacks Consensus Estimate. The company had reported 16 percent fall in the adjusted revenue to $3.17 billion in the fourth quarter of FY 20, missing the analysts’ estimates for revenue by 11.50%.

On the other hand, the company has signed an agreement to acquire Drizly for approximately $1.1 billion in stock and cash. The transaction is expected to close within the first half of 2021. In addition, the company has completed the sale of approximately $207 million of the Didi shares. The company plans to sell approximately $293 million additional Didi shares and the closing is expected to occur in Q1 2021.