Uber Posts $1 Billion Net Loss, in Line With Guidance By Investing.com


© Reuters. Uber Posts $1 Billion Net Loss, in Line With Guidance

Investing.com – Uber (NYSE:UBER) reported a first-quarter loss and revenue in line with its previous guidance after the bell Thursday.

In its first earnings report since going public, the ride-sharing company reported revenue of $3.1 billion for the three months ended March 31, just a tad higher than the $3.09 billion expected according to analysts’ forecasts compiled by Investing.com.

It reported a net loss of $1.01 billion, near the high end of its guidance, or $2.26 per share. It said its adjusted loss was $869 million, but did not provide a per-share figure.

Shares were flat after the bell.

Gross bookings rose 34% from the year-ago period to $14.65 billion, ahead of its guidance of $14.5 billion.

Monthly active platform consumers rose to 93 million, right in line with the company’s forecast.

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