From CNBC: 2024-05-08 07:43:30

Uber’s first-quarter results, announced on Jan. 17th, exceeded revenue estimates but posted an unexpected net loss. Shares fell over 6% in premarket trading. Revenue totaled $10.13 billion, a 15% increase from last year. The net loss was $654 million, reflecting an equity investment loss of $721 million. CEO Dara Khosrowshahi clarified the loss was not due to operations. Adjusted EBITDA was $1.38 billion, exceeding analyst expectations. For the second quarter, Uber expects gross bookings between $38.75 billion and $40.25 billion with an adjusted EBITDA of $1.45 billion to $1.53 billion. Monthly active platform users rose by 15% to 149 million, with 2.6 billion trips completed, reflecting a 21% increase. Uber’s mobility segment reported $5.63 billion in revenue, up 30% year over year, and the delivery segment reported $3.21 billion in revenue, up 4% from the previous year. Uber’s freight business booked $1.28 billion in sales for the quarter, a decrease of 8% year over year. The company is scheduled to hold a quarterly call with investors at 8:00 a.m. ET.



Read more at CNBC:: Uber (UBER) Q1 2024 earnings