Uber Technologies Inc. (NYSE: UBER) announced first quarter results before the market open in the US on Tuesday.
World’s largest ridesharing company beat analyst expectations for the quarter, sending the stock price higher.
Company overview
The results
Uber reported revenue of $8.823 billion (up by 29% vs Q1 2022) vs. $8.703 billion expected.
The company reported loss per share of -$0.08 per share vs. estimate of -$0.087 loss per share.
CEO commentary
“We significantly accelerated Q1 trip growth to 24% from 19% last quarter, with Mobility trip growth of 32%, as a result of improved earner and consumer engagement,” Dara Khosrowshahi, CEO of Uber said in a letter to shareholders.
“Looking ahead, we are focused on extending our product, scale and platform advantages to sustain market-leading top and bottom-line growth beyond 2023,” Khosrowshahi added.
The stock was up +11.55% on Tuesday at $36.53 a share.
Stock performance
Uber price targets
Uber is the 196th largest company in the world with a market cap of $73.54 billion, according to CompaniesMarketCap.
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Sources: Uber Technologies Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap, Wikipedia
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