Uber Technologies, Inc. (NYSE:UBER) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET Company Participants Deepa Subramanian - VP, IR & Corporate Finance Dara Khosrowshahi - CEO Prashanth Mahendra-Rajah - CFO Conference Call Participants Justin Post - Bank of America Brian Nowak - Morgan Stanley Douglas Anmuth - JPMorgan Eric Sheridan - Goldman Sachs Nikhil Devnani - Bernstein Mark Mahaney - Evercore James Lee - Mizuho Securities Operator Thank you for standing by. My name is Sarah, and I will be your ...

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 ...

"Our results this quarter once again demonstrate our ability to deliver consistent, profitable growth at scale," said Dara Khosrowshahi, CEO. "More than 7 million people now choose to earn flexibly on Uber every month, with driver earnings of $16.6 billion continuing to grow faster than our topline." "Our multi-year growth framework is on track, with audience up 15% and frequency up 6% in Q1," said Prashanth Mahendra-Rajah, CFO. "We reached a new quarterly record for Adjusted EBITDA, which grew 82% YoY, and ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...