On an adjusted basis, Uber lost $837 million before interest, taxes, depreciation, and amortization during the second quarter. Though the company's EBITDA was positive for its rides segment, and its loss in the delivery segment decreased from the second quarter of 2019, investors will over time increasingly focus on the company's overall profitability, said Tom White, an analyst at DA Davidson.
Overall profitability is important because it removes some of the questions investors might have about how Uber categorizes certain costs. For example, the EBITDA for Uber's mobility segment may fail to take into account some research-and-development costs that benefited the mobility business but were placed in a separate category on Uber's balance sheet, White said.
Uber did not immediately respond to a request for comment on Ives' or White's responses.