UBER
Uber Technologies Inc. (NYSE: UBER) experienced a dip in its financial performance this quarter, posting a loss of $0.32 per share. This result was notably below the expected profit of $0.22 per share. However, the company did report a slight revenue win, totaling $10.13 billion, which was marginally above the anticipated $10.09 billion.
Despite these mixed results, Uber's stock price fell by over 7% in premarket trading. The decrease came after the company revealed its gross bookings for the quarter were $37.65 billion, missing the expected $37.97 billion. On a brighter note, Uber saw a 20% growth in bookings and a 21% increase in trips compared to last year, totaling about 28 million trips per day.
| Metric | Q1 Results | Market Expectations |
|---|---|---|
| Loss Per Share | ($0.32) | +$0.22 |
| Revenue | $10.13 billion | $10.09 billion |
| Gross Bookings | $37.65 billion | $37.97 billion |
| Next Quarter Bookings | $38.75 - $40.25 billion | ~$40.04 billion |
| Adjusted EBITDA | $1.45 - $1.53 billion | --- |
Looking ahead, Uber forecasts second-quarter bookings to range between $38.75 billion and $40.25 billion, leaning toward the lower end of market expectations. The projected adjusted EBITDA is set between $1.45 billion and $1.53 billion.
