Explore the latest developments concerning Uber stock sinks.
Uber stock sinks 5% after weak guidance despite revenue growth
Uber issued a forecast for bookings and earnings that trailed analysts' estimates, while second-quarter profit was in line with expectations. Shares closed 5.3% lower on Wednesday following the print.
Here's how the company did versus analysts' estimates compiled by LSEG:
Revenue increased 12% from $12.65 billion a year earlier. Net income climbed to $2.39 billion, or $1.17 a share, from $1.35 billion, or 63 cents a share, a year ago.
Uber's core mobility service accounted for $7.36 billion of second-quarter sales, while delivery revenue reached $5.25 billion. Mobility gross bookings rose 22% from a year to $28.99 billion, and delivery bookings jumped 26% $27.46 billion. Total bookings of $58 billion topped the $57.23 billion average analyst estimate, according to StreetAccount.
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