Categories AlphaGraphs, Earnings, Industrials, LATEST
UBER Earnings: Uber Q1 loss widens despite strong revenue growth
Uber Technologies, Inc. (NYSE: UBER) on Wednesday reported a wider net loss for the March quarter when the ride-hailing company’s revenues more than doubled aided by strong booking growth.
Net loss for the first quarter of 2022 was $5.93 billion or $3.04 per share, compared to a loss of $108 million or $0.06 per share in the corresponding period of last year. The bottom line was impacted by losses related to the company’s equity investments.
However, net revenues rose sharply to $6.85 billion in the most recent quarter from $2.90 billion in the corresponding period of 2021, with all the main operating segments registering strong growth. At $26.4 billion, gross bookings were up 35% year-over-year.
Check this space to read management/analysts’ comments on Uber’s Q1 2022 earnings
“In April, Mobility Gross Bookings exceeded 2019 levels across all regions and use cases. There’s never been a more exciting time to innovate at Uber and we’re focused on executing our strategy to grow our platform profitably,” said Dara Khosrowshahi, chief executive officer of Uber.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Trxade (MEDS) is increasing the breadth of product offerings: CEO Suren Ajjarapu
Trxade Health Inc. (NASDAQ: MEDS) is an online pharmaceutical marketplace that provides a platform for independent pharmacies to operate more effectively. The company’s digital platform helps optimize drug procurement and
AMAT Stock: Is now the right time to invest in Applied Materials?
It is estimated that the size of the global chip manufacturing equipment market would nearly double from the current levels to about $142 billion in the next eight years. Applied
Here’s a look at Take-Two Interactive Software’s (TTWO) expectations for the coming year
Shares of Take-Two Interactive Software (NASDAQ: TTWO) were down over 2% on Friday. The stock has dropped 32% year-to-date and 35% over the past 12 months. Earlier this week, the
