Uber Technologies (UBER) shares are dropping in premarket trading Thursday, as the ride-hailing giant posted weaker-than-expected gross bookings in the third quarter.
Uber's mobility revenue rose 26%, boosting Q3 results. Comcast saw Peacock subscribers surge from Olympics; Peloton and Merck raised yearly outlooks.
Uber Technologies (UBER) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.10 per share a year ago.
Uber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss the company's quarterly earnings results, the company's delivery business, interest in Expedia, M&A strategy, autonomous strategy, and more.
Uber Technologies Inc (NYSE:UBER, ETR:UT8) shares fell 6% in pre-market trading as news of expectation-beating earnings and revenue failed to overshadow disappointing gross booking figures. Revenue climbed by 20% to $11.2 billion in the third quarter, aiding a jump in diluted earnings per share from $0.10 to $1.20, Uber reported on Thursday.
Uber's stock is falling after a miss on gross bookings, which measures the dollar value of things like rides and delivery orders.
The ride-hailing company beats quarterly estimates for earnings and sales but gross bookings are lower than expected.
Uber Technologies's gross bookings grew at its slowest pace in over a year in a sign that riders were opting for less expensive public transportation over taxis, sending its shares down more than 6% in premarket trading.
Uber reported third-quarter results Thursday that beat analysts' expectations for revenue. The company's revenue grew 20%, totaling $11.19 billion.
Uber Technologies (UBER) will report earnings for the third quarter before the opening bell on Thursday, with the ridesharing giant expected to report a substantial rise in profits and revenue from the same time last year.
UBER's third-quarter performance is likely to have benefitted from upbeat gross bookings. Total trips are expected to have increased y/y in Q3.
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