Uber beat first-quarter earnings estimates on Wednesday but missed revenue expectations, according to CNBC. The ride-share company reported earnings of 83 cents per share, beating expectations, while revenue of $11.53 billion came in just below forecasts. Ride-hailing and delivery bookings rose 13% and 15% year over year, respectively. Uber expects Q2 gross bookings between $45.75 billion and $47.25 billion and EBITDA between $2.02 billion and $2.12 billion. CEO Dara Khosrowshahi called autonomous vehicle technology Uber’s “greatest opportunity” and said the platform has reached a 1.5 million trip run-rate for AV rides and deliveries.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Uber beat first quarter earnings estimates on Wednesday but missed revenue expectations
00:06according to CNBC.
00:08The ride share company reported earnings of 83 cents per share, beating expectations
00:12while revenue of $11.53 billion came in just below forecast.
00:16Ride alien delivery bookings rose 13% and 50% year over year, respectively.
00:20Uber expects Q2 gross bookings between $45.75 billion and $47.25 billion,
00:26even between $2.02 billion and $2.12 billion.
00:30CEO Derek Kasha-Rahai called autonomous vehicle technology Uber's greatest opportunity
00:34and said the platform has reached a 1.5 million trip run rate for AV rides and deliveries.
00:39For all things money, visit Benzinga.com slash GSTV.