Uber under pressure after its quarterly accounts

(AOF) – Uber tumbled 7.01% to $65.50 on the New York stock exchange in the wake of a mixed quarterly publication. The group recorded a net loss, group share, widening to $654 million for the first three months of 2024. Its adjusted basic profit of $1.38 billion in the first quarter was up 82% compared to the previous year and more than expectations of $1.32 billion.

Its revenue rose 15% to $10.13 billion, slightly above expectations.

Uber expects second-quarter adjusted core profit to be between $1.45 billion and $1.53 billion, with a midpoint of $1.49 billion, which is above estimate analyst average of $1.47 billion.

Uber also expects gross bookings to be between $38.75 billion and $40.25 billion, which is lower than the average estimate of $40.04 billion.

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