Uber beats estimates as revenue and bookings see double-digit growth
Publishing timestamp: 2024-02-07 11:59:01
Summary
Uber reported fourth-quarter results that exceeded analysts' expectations, with revenue up 15% from the same quarter last year. The CEO expressed optimism for sustainable, profitable growth as consumer spending shifts to services. However, Uber's shares fell more than 2% following the announcement. The company's net income was boosted by unrealized gains from equity investments. Uber's gross bookings and adjusted EBITDA also showed positive growth. The number of monthly active platform consumers increased, but the freight business continued to decline.
Sentiment: POSITIVE
Tickers: UBER,
Keywords: uber technologies inc, internet, dara khosrowshahi, enterprise, media, breaking news: technology, technology, earnings, business news, breaking news: business,
Source: https://www.cnbc.com/2024/02/07/uber-earnings-q4-2023-.html