Uber bookings surge 24% in first quarter, driven by deliveries
Al Jazeera
The total value of customer spending on Uber reached $19.54bn, but the performance was blunted by a revenue decline due largely to a $600m expense from reclassifying workers in the UK.
Uber Technologies Inc. reported a 24% increase in gross bookings in the first quarter, driven by continued growth in the delivery business. The total value of customer spending on Uber reached $19.54 billion, exceeding an average of analysts’ estimates compiled by Bloomberg. But the performance was blunted by a revenue decline, due largely to a $600 million expense from reclassifying workers in the U.K. The stock fell less than 1% in extended trading. The ride-hailing and delivery company narrowed its adjusted loss, Uber said in a statement Wednesday. It was $359 million before interest, tax and other expenses, easily beating analysts’ estimates. The loss was 6 cents a share.More Related News