After Uber Technologies (UBER) reported mixed first-quarter results sending shares lower in intraday trading Wednesday, executives joined the company's earnings call to discuss its financial results, future plans for expansion, and partnerships with autonomous vehicle companies that could provide growth opportunities. Equity Investments Could Continue To Drag on Uber's Bottom Line Executives suggested Wednesday that Uber's equity investments could continue to impact its bottom line in the coming quarter ...

For the quarter ended March 2024, Uber Technologies (UBER) reported revenue of $10.13 billion, up 14.8% over the same period last year. EPS came in at -$0.32, compared to -$0.08 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $10.08 billion, representing a surprise of +0.55%. The company delivered an EPS surprise of -252.38%, with the consensus EPS estimate being $0.21.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Financial Data and Key Metrics Changes - The company reported a year-on-year growth of 21% in trips, consistent with gross bookings growth on a constant currency basis [88] - Adjusted EBITDA reached a record of $1.4 billion, growing 82% year-on-year, with free cash flow of $4.2 billion over the trailing 12 months [93] - The company expects another quarter of over 20% year-on-year growth on a constant currency basis in Q2 [93] Business Line Data and Key Metrics Changes - Mobility gross bookings growth for Q1 was 26% on a constant currency basis, with a significant portion of growth driven by audience expansion [110] - The company is seeing strong growth in new products, with some categories growing 80% year-on-year [34] - Delivery business is growing in the teens, with audience and frequency being the largest contributors to growth [73] Market Data and Key Metrics Changes - In Latin America, mobility volume growth is in the mid-20s, indicating a healthy market environment [101] - The company noted a seasonal impact in Latin America, with demand around Carnival not recurring in Q1 [9] - Active merchants increased by 12% year-on-year, contributing to improved pricing and higher frequency [43] Company Strategy and Development Direction - The company remains focused on integrating autonomous vehicle (AV) technology, believing it will enhance safety and expand the marketplace [3] - The strategy for Uber One is to increase penetration and drive adoption through exclusive offers and benefits for members [23] - The company is optimistic about the growth potential in grocery and retail delivery, with a path to profitability being established [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the Mobility business, expecting mid-20s year-over-year growth at constant currency for Q2 [18] - The company is addressing regulatory challenges in markets like Seattle and New York, which have impacted delivery volumes and courier availability [46][66] - Management highlighted the importance of returning to pre-pandemic commuting patterns to sustain growth in the Mobility segment [36] Other Important Information - The company achieved a significant milestone with Uber One membership fees exceeding $1 billion [21] - The advertising business is expected to grow, with non-restaurant advertising being in nascent stages but showing promise [41] - The company is actively working on optimizing Uber Cash usage to enhance customer engagement across services [24] Q&A Session Summary Question: Impact of AV technology on Uber and competition - Management believes AV technology will take time to develop and will not lead to immediate competition, emphasizing the need for a regulatory framework [91][92] Question: Insights on investments and growth strategies - Management discussed the importance of balancing investments to encourage drivers, couriers, and merchants, adapting strategies based on market needs [100] Question: Growth in U.S. rideshare and customer acquisition - U.S. Mobility growth is healthy, with significant audience growth and new product categories contributing to customer acquisition [34][33] Question: Delivery strategy in suburbs and Instacart partnership - The company is focused on suburban growth, leveraging partnerships like Instacart to enhance service offerings and reach new customer segments [19][10]

Why Uber Is Tanking Today Hollie Adams / Getty Images News via Getty Images Uber (NYSE: UBER) is one of the major laggards today, down 5.5% at the opening bell after investors were unsatisfied with the company’s first quarter performance. Analysts were expecting another quarter profit, keeping the positive momentum going after Uber’s first full year of profitability last year, but that was not the case. Uber’s loss was more to do with legal settlements and investment write downs than core business functio ...

Uber Technologies (UBER) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of $0.21. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -252.38%. A quarter ago, it was expected that this ride-hailing company would post earnings of $0.15 per share when it actually produced earnings of $0.66, delivering a surprise of 340%.Over the last four quarters, the company has ...

ToplineUber stock flailed Wednesday after the company reported a surprise quarterly loss, throwing a wrench in Wall Street’s celebration of the ride-hailing firm’s move to profitability.Uber CEO Dara Khosrowshahi said the surprise loss had "nothing" to do with normal operations.Getty Images for Concordia Summit Key FactsShares of Uber are on track to suffer their worst daily percentage loss since Oct. 2022, falling 8% to $65 per share shortly after market open, which would be their lowest intraday level sin ...

After being one of the year’s top-performing S&P 500 stocks in the first months of 2024, Uber’s (NYSE: UBER) chart started forming a bow-like curvature with the most recent trend being downward.The latest development, it would appear, has done little to reverse course and help UBER regain an upward momentum. Indeed, the earnings report covering the first trimester of 2024 proved worrying enough that it sent Uber shares plunging more than 8.52% in Wednesday’s pre-market.Uber stock extended session performanc ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Key TakeawaysUber stock fell sharply in premarket trading Wednesday following the release of first-quarter results.Revenue met estimates while gross bookings fell short, and $721 million in charges related to revaluations of Uber's investments led the company to report a surprising net loss for the quarter.For the current quarter, gross bookings are projected to range between $38.75 billion to $40.25 billion, mostly below the $40.12 billion analysts are projecting. Ridesharing giant Uber Technologies' (UBER ...

Uber shares dropped as much as 8% in premarket trading after reporting first quarter results Wednesday.The ride-hailing giant saw gross bookings climb 20% and revenue slightly beat expectations.Earnings-per-share was significantly below Wall Street forecasts, however. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email add ...