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Uber Technologies Inc. reported disappointing first-quarter earnings, missing Wall Street's expectations with a loss of $0.32 per share against an expected $0.22. The company's revenue was $10.13 billion, slightly above the forecast of $10.11 billion. The results reflect challenges from Uber's ongoing global regulatory battles and a decline in demand in Latin America. Additionally, Uber's gross bookings for the quarter were $37.65 billion, below the estimated $37.97 billion. The company also provided a weaker-than-expected outlook for the second quarter, forecasting gross bookings between $38.75 billion and $40.25 billion, compared to analysts' expectations of $40.04 billion. Uber shares fell 7.7% following the earnings release.
UBER JUST REPORTED EARNINGS *UBER Q1 GROSS BOOKINGS $37.65B, EST. $37.97B ( MISS ❌ ) *UBER Q1 EPS - $0.32, EST. $0.22 ( MISS ❌ ) *UBER Q1 MONTHLY ACTIVE USERS 149M, EST. 149.77M( MISS ❌ ) *UBER SEES Q2 GROSS BOOKINGS $39.5B EST. $40B ( MISS ❌ ) $UBER https://t.co/96OMk6dWQu
Breaking news: Uber’s results far undershot expectations in the first quarter as the company was weighed down by costs from its decade-long battle with global regulators. https://t.co/EpemNyNaqL https://t.co/pcV82mgMNo
$UBER | Uber Technologies Q1 Earnings: - GAAP EPS/Loss $0.32 (Est. $0.24)🔴 - Sales $10.10B (Est. $10.11B) 🔴 - Says We Continue To Monitor Near-Term Category Challenges And Remain Confident That Freight's Technology, Shipper Platform And Marketplace Flywheel Will Drive Long-Term…
