Uber surpasses revenue expectations in third quarter, reports Wall Street.

• Uber reported third-quarter results Thursday that beat analysts' expectations for revenue.
• The company's revenue grew 20%, totaling $11.19 billion.
• Dara Khosrowshahi, Uber CEO, stated in prepared remarks that we are fortunate to have strong performance in our core business.

On Thursday, the company reported third-quarter results that exceeded Wall Street's revenue expectations but fell short of analysts' gross bookings projections.

Shares of the company were down more than 5% pre-market on Thursday.

Here's how the company did:

• LSEG anticipated earnings per share to be 41 cents, which is lower than the actual $1.20.
• Revenue: $11.19 billion vs. $10.98 billion expected by LSEG

Uber's revenue increased by 20% in its third quarter, reaching $40.97 billion from $9.3 billion in the previous year. However, the company fell short of analysts' expectations with $40.97 billion in gross bookings, compared to the predicted $41.25 billion.

Uber reported a net income of $1.20 per share, up from 10 cents per share in the same quarter last year, after including a $1.7 billion pre-tax benefit from unrealized gains related to the reevaluation of its equity investments.

Uber's adjusted EBITDA came in at $1.69 billion, a 55% increase from the previous year and slightly above the $1.64 billion forecasted by analysts surveyed by StreetAccount.

Dara Khosrowshahi, Uber CEO, stated on Thursday that the company's strong performance in its core business enables it to make organic investments in new products and capabilities, which will benefit the platform in the long run.

Uber expects gross bookings between $42.75 billion and $44.25 billion in its fourth quarter, lower than the StreetAccount estimates of $43.68 billion. The company anticipates adjusted EBITDA of $1.78 billion to $1.88 billion, also lower than the $1.83 billion expected by analysts.

During the period, 2.9 billion trips were completed on the platform, representing a 17% increase year over year. Additionally, Uber's third quarter saw its monthly active platform consumers reach 161 million, up 13% year over year from 142 million.

Here's how Uber's largest business segments performed:

Gross bookings for mobility increased by 17% year over year to reach $21 billion.

Gross bookings for delivery increased by 16% year over year to $18.7 billion.

Uber's mobility and delivery segments reported $6.41 billion and $3.47 billion in revenue, respectively, exceeding analysts' expectations.

The freight business of the company generated $1.31 billion in revenue during the quarter, representing a 2% year-over-year growth.