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, ...

Analyst Estimates for Q1 2024Q4 2023Q1 2023Revenue$10.1 billion$9.94 billion$8.82 billionDiluted Earnings / (Loss) per Share22 cents66 cents(8 cents)Net Income / (Loss)$477.2 million$1.43 billion($157 million) Key Metrics: Bookings, Monthly Active Users In addition to record revenue, analysts also expect Uber to post record gross booking numbers across its Mobility business, which encompasses the ridesharing portion of the business, and the Deliveries segment, which includes the Uber Eats delivery app, a ...

Uber is reportedly facing a $312 million lawsuit from drivers of London’s black cabs.That suit, according to a Bloomberg news report Thursday (May 2), was filed by more than 10,800 cabbies and accuses the tech giant’s ride hailing operation of operating in Great Britain’s largest city illegally. The cab drivers allege that Uber’s license to operate in London was obtained improperly, and that the company intended to gain market share illegally, taking business away from black cab drivers if necessary.“Uber k ...

Uber faces a multimillion-pound lawsuit from London's black cab drivers in a revival of the longstanding dispute over the operation of the ride-hailing app in the UK capital.The action, which will be filed in the High Court on Thursday, alleges that Uber improperly obtained a licence from Transport for London in 2012 and therefore took business away from other drivers unlawfully. The value of the claim is estimated at a minimum of £250m, with each of the 10,500 black cab drivers potentially eligible for com ...

The market expects Uber Technologies (UBER) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be rel ...

Uber for Business has designed a new tool to make it easier for executive assistants (EAs) to arrange corporate travel. The company’s new delegate profiles enable EAs to manage ground transportation for executives on their behalf, Uber for Business said in a Wednesday (April 24) press release.With a delegate profile, EAs can request on-demand premium rides or reserve trips in advance for executives with a few clicks, see the cost upfront, and gain real-time trip visibility and communication so they can moni ...

Uber and Klarna have joined forces to offer users new ways to pay for rides and deliveries.The collaboration, announced Wednesday (April 24), lets users in the U.S., Germany and Klarna’s home country Sweden use Klarna’s Pay Now option to cover the cost of their next ride immediately and in-full with a single click, while tracking purchases in the Klarna app. In addition, Klarna said in a news release, customers in Germany and Sweden can use Klarna’s monthly payment option. This lets them bundle purchases in ...

In this articleUBERThe Swedish "buy now, pay later" pioneer said Tuesday that its new design would help users find the items they want by using more advanced AI recommendation algorithms, while merchants will be able to target customers more effectively.Rafael Henrique | SOPA Images | LightRocket via Getty ImagesKlarna on Wednesday announced a global partnership with Uber to power payments for the ride-hailing giant's Uber and Uber Eats apps.The partnership will see the Swedish financial technology firm add ...