Uber beats expectations for revenue but falls short of estimates for gross bookings.
Uber reported first-quarter results on Tuesday that beat expectations for revenue but fell short of estimates for gross bookings.Dara Khosrowshahi, CEO of Uber, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.on Wednesday that came in slightly above analysts' estimates for revenue, but the ridesharing company posted an unexpected net loss.Uber's revenue grew 15% in its first quarter from $8.82 billion a year prior.
Uber reported adjusted EBITDA of $1.38 billion, up 82% year over year and slightly above the $1.31 billion expected by analysts polled by StreetAccount. The number of Uber's monthly active platform consumers reached 149 million in its first quarter, up 15% year over year from 130 million. There were 2.6 billion trips completed on the platform during the period, up 21% year over year.
"To drive user growth and win more of their daily trips, we are focused on increasing our penetration of core use cases, while also expanding into new consumer segments," Khosrowshahi said in his prepared remarks.
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