WMT - Uber Continues To Enjoy Robust Demand But Legal Bills Take A Toll On Its Bottom Line | Benzinga
On Tuesday, Uber Technologies Inc (NYSE: UBER) posted a mixed first quarter report. Although Uber slightly surpassed revenue estimates, it posted an unexpected loss.
First Quarter Highlights
For the three months ended on March 31st, revenue grew 15% to $10.13 billion, slightly surpassing LSEG’s estimate of $10.11 billion. Gross bookings amounted to $37.65 billion which is below StreetAccount’s estimate of $37.93 billion.
The mobility segment grew 25% YoY as gross bookings amounted to $18.67 billion with revenue rising 30% YoY as it brought in sales of $5.63 billion.
The delivery business reported gross bookings grew 18% YoY $17.7 billion while revenue only grew 4% YoY to $3.21 billion. Uber noted that the delivery margin was harmed by business model changes.
Freight business brought in $1.28 billion as ...