Uber Beats Revenue Estimates, Sees Robust Demand and Consumer Spending Shifts Fueling Marketplace Expansion from citizations Watch Video

⏲ Duration: 0:38
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✓ Published: 09-May-2024

Description:
Uber reported first-quarter revenue of over $10 billion, beating estimates but posting a wider net loss. Gross bookings slightly missed forecasts, though mobility bookings grew 25% and delivery 18% year-over-year. Monthly active platform consumers were up 15% from a year ago. The company cited robust demand and consumer spending shifts supporting its marketplace. Uber aims to boost penetration in core services and expand into new segments to drive user growth. Shares fell over 6% in Wednesday's premarket trading.