It could be years before Uber’s shipping division generates any meaningful profit, says a Morgan Stanley analyst
A Morgan Stanley & Co. analysis estimates it could be years before Uber Technologies Inc.’s logistics division generates meaningful profits. Photo: joseph white/Reuters By Jennifer Smith June 4, 2019 7:35 p.m. ET Uber Freight is sharing nearly all the revenue from its digital freight-matching platform with its carriers, according to a Morgan Stanley & Co. analysis that estimates it could be years before Uber Technologies Inc.’s logistics division generates meaningful profits.
Newsletter Sign-up The Morgan Stanley analysis suggests Uber Freight is undercutting its brokerage competitors, including big companies such as C.H. Robinson Worldwide Inc. and Echo Global Logistics Inc., as it chases market share. Uber Freight had $359 million in gross freight bookings in 2018 and generated $125 million in revenue in the fourth quarter of that year, according to the IPO filing. In its first-quarter earnings, Uber reported its “Other Bets” segment, which the company says primarily consists of Uber Freight and its New Mobility business focused on electric bikes and scooters, logged $145 million in revenue, up from $40 million for the same period in 2018.
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