{"id":1055,"date":"2023-05-02T13:03:16","date_gmt":"2023-05-02T13:03:16","guid":{"rendered":"https:\/\/taamfx.com\/?p=1055"},"modified":"2023-05-02T13:03:20","modified_gmt":"2023-05-02T13:03:20","slug":"ride-sharing-giant-meets-expectations-bookings-jump-19-year-over-year","status":"publish","type":"post","link":"https:\/\/taamfx.com\/index.php\/2023\/05\/02\/ride-sharing-giant-meets-expectations-bookings-jump-19-year-over-year\/","title":{"rendered":"Ride-sharing giant meets expectations, bookings jump 19% year-over-year"},"content":{"rendered":"\n<p>Ride-sharing giant Uber (<a href=\"https:\/\/finance.yahoo.com\/quote\/UBER\/\">UBER<\/a>)&nbsp;<a href=\"https:\/\/s23.q4cdn.com\/407969754\/files\/doc_financials\/2023\/q1\/Uber-Q1-23-Earnings-Press-Release.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">reported its fiscal first quarter&nbsp;<\/a>earnings ahead of the opening bell on Tuesday, with a slight beat on revenue and meeting analysts&#8217; expectations on losses per share.<\/p>\n\n\n\n<p>Gross bookings for the company jumped 19% year-over-year, while the company&#8217;s Mobility business continued to improve with revenue climbing 40% year-over-year. The results come as rival Lyft (<a href=\"https:\/\/finance.yahoo.com\/quote\/LYFT\/key-statistics?fr=sycsrp_catchall\">LYFT<\/a>), which laid off 26% of its staff in April, continues to struggle to keep up with Uber.<\/p>\n\n\n\n<p>Here are the most important numbers from the report, compared to what Wall Street was expecting, according to data from Bloomberg.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue:<\/strong>&nbsp;$8.8 billion versus $8.7 billion expected<\/li>\n\n\n\n<li><strong>Adj losses per share:<\/strong>&nbsp;$0.08 versus $0.08 expected<\/li>\n\n\n\n<li><strong>Gross bookings:<\/strong>&nbsp;$31.4 billion versus $31.4 billion expected<\/li>\n\n\n\n<li><strong>Mobility:&nbsp;<\/strong>$14.9 billion versus $14.8 billion expected<\/li>\n\n\n\n<li><strong>Delivery:<\/strong>&nbsp;$15 billion versus $14.9 billion expected<\/li>\n\n\n\n<li><strong>Freight:<\/strong>&nbsp;$1.4 billion versus $1.6 billion expected<\/li>\n<\/ul>\n\n\n\n<p>Shares of Uber rose 7% in the premarket following the announcement.<\/p>\n\n\n\n<p>Uber Technologies, Inc. (UBER)<\/p>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/quote\/UBER?p=UBER\" target=\"_blank\" rel=\"noreferrer noopener\">View quote details<\/a><\/p>\n\n\n\n<p>NYSE &#8211; Nasdaq Real Time Price (USD)32.74+1.69(5.44%)At close:&nbsp;4:00PM EDT35.70<\/p>\n\n\n\n<p>&nbsp;+2.96&nbsp;&nbsp;&nbsp;(+9.04%)<\/p>\n\n\n\n<p>Pre-Market:&nbsp;&nbsp;8:59AM EDT<\/p>\n\n\n\n<p>Add to watchlist<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>1D<\/li>\n\n\n\n<li>5D<\/li>\n\n\n\n<li>1M<\/li>\n\n\n\n<li>6M<\/li>\n\n\n\n<li>YTD<\/li>\n\n\n\n<li>1Y<\/li>\n\n\n\n<li>5Y<\/li>\n\n\n\n<li>Max<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/chart\/UBER\" target=\"_blank\" rel=\"noreferrer noopener\">Full screen<\/a><\/p>\n\n\n\n<p><canvas width=\"609\" height=\"200\"><\/canvas><canvas width=\"609\" height=\"200\"><\/canvas><\/p>\n\n\n\n<p>UBERLYFT<\/p>\n\n\n\n<p>&#8220;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,\u201d Uber CEO Dara Khosrowshahi said in a statement. \u201cLooking ahead, we are focused on extending our product, scale and platform advantages to sustain market-leading top and bottom-line growth beyond 2023.&#8221;<\/p>\n\n\n\n<p>Uber&#8217;s improved performance could hold as an indicator of a strong consumer. That&#8217;s especially true when it comes to the Delivery business, which adds a rather sharp premium of around 35% to total food costs.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/Lh31JwqXfTIo9yI89v_jEQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ2Nw--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2021-06\/b2c67640-d521-11eb-bedf-7bc76d034949\" alt=\"In this photo taken Wednesday, March 1, 2017, is an exterior view of the headquarters of Uber in San Francisco. (AP Photo\/Eric Risberg)\"\/><figcaption class=\"wp-element-caption\">In this photo taken Wednesday, March 1, 2017, is an exterior view of the headquarters of Uber in San Francisco. (AP Photo\/Eric Risberg)<\/figcaption><\/figure>\n\n\n\n<p>Uber has been dominating the ride-sharing market thanks to its timely expansion into food delivery, which helped the firm stay afloat during the pandemic when ridership collapsed as people stayed inside amid lockdowns.<\/p>\n\n\n\n<p>Uber, however, could face increased competition from smaller Lyft, which has struggled to keep pace with the ride-sharing juggernaut in recent years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ride-sharing giant Uber (UBER)&nbsp;reported its fiscal first quarter&nbsp;earnings ahead of the opening bell on Tuesday, with a slight beat on revenue and meeting analysts&#8217; expectations on losses per share. Gross bookings for the company jumped 19% year-over-year, while the company&#8217;s Mobility business continued to improve with revenue climbing 40% year-over-year. The results come as rival [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-market"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/posts\/1055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/comments?post=1055"}],"version-history":[{"count":1,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/posts\/1055\/revisions"}],"predecessor-version":[{"id":1057,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/posts\/1055\/revisions\/1057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/media\/1056"}],"wp:attachment":[{"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/media?parent=1055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/categories?post=1055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taamfx.com\/index.php\/wp-json\/wp\/v2\/tags?post=1055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}