Uber reported first-quarter gross bookings of US$53.7 billion, beating expectations, and raised its June-quarter guidance to US$56.25 billion to US$57.75 billion, above estimates, as demand for rides and deliveries remained strong despite headwinds from the Middle East conflict, according to Reuters.

The company's shares rose approximately 8% in premarket trading following the announcement.

Financial Results

First-quarter revenue reached US$13.2 billion, missing estimates of US$13.62 billion. Adjusted earnings per share came in at 72 cents, exceeding the 70-cent estimate.

Within the results, delivery and freight revenue topped forecasts, while ride-hailing revenue missed expectations.

Second-Quarter Outlook

Uber projected second-quarter adjusted earnings above estimates, supporting investor confidence in sustained demand across its core business segments.

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Comment

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GateUser-c29c3db9

· 05-07 02:06

The guidance for 56-57 billion looks quite confident, but we need to see if driver subsidies and the competitive landscape will erode margins.

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YieldBento

· 05-07 00:50

The earnings beat expectations and raised Q2 guidance; capital expenditures are well-controlled, and the story of free cash flow can continue.

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SilverCubeInsomnia

· 05-07 00:46

The resilience of the delivery business is stronger than expected; even under the double debuffs of inflation and geopolitical conflicts, it can still perform like this. Platform effects are indeed present.

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SeaSaltAirdropParticipants

· 05-07 00:46

Uber can perform this quarter, with $53.7 billion surpassing expectations. Even in the chaos in the Middle East, it hasn't stopped everyone from ordering rides and takeout.

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