Uber Sinks as Gross Bookings Miss Estimates, Investment Charges Drive Net Loss

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 ...