Uber's Q1 loss was worse than expected, but revenues increased year-over-year

From Nasdaq: 2024-05-08 15:20:00

Uber Technologies reported a loss of 32 cents per share in Q1 2024, exceeding the Zacks Consensus Estimate of 21 cents. Total revenues of $10,131 million beat expectations, with Mobility revenues at $5,633 million and Delivery revenues at $3,214 million. Adjusted EBITDA surged 82% to $1,382 million.

In Q1, Uber’s gross bookings from Mobility rose 25% to $18,670 million, while Delivery bookings increased 18% to $17,699 million. Gross Freight bookings fell to $1,282 million. Uber’s Q2 guidance projects gross bookings between $38.75 billion-$40.25 billion and adjusted EBITDA of $1.45 billion-$1.53 billion.

Lyft Inc. reported earnings of 15 cents per share and revenues of $1,277.2 million in Q1 2024, beating estimates. Alphabet’s Q1 earnings of $1.89 per share and revenues of $80.54 billion exceeded expectations by 26.8% and 15%, respectively. Uber Technologies, Inc. Price, Consensus and EPS SurpriseUber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Technologies, Inc. Quote



Read more at Nasdaq: UBER’s Q1 Loss Wider Than Estimates, Revenues Increase Y/Y