Uber Decelerates but Still Moving Fast
Here's our initial take on Uber's (NYSE: UBER) first-quarter results.Uber's first-quarter results came in mostly inline with management's guidance, with gross bookings up 14% to $42.8 billion, right at the bottom end of the range from its outlook provided when it reported fourth-quarter results. Trips in the quarter increased 18% to over 3 billion, and monthly active platform consumers (MAPC) increased 14%, with the average MAPC taking 3% more trips than last year. Mobility (moving people) and delivery (delivering stuff) both continue to grow, with mobility revenue up 15% and delivery revenue 18% higher. Freight continues to lag, down about 2% in the quarter.Uber's revenue also continues to expand outside of the U.S. at a high rate. Adjusted for foreign exchange, gross bookings increased 18%, and revenue was up 17% on a constant-currency basis.Continue reading
Here's our initial take on Uber's (NYSE: UBER) first-quarter results.
Uber's first-quarter results came in mostly inline with management's guidance, with gross bookings up 14% to $42.8 billion, right at the bottom end of the range from its outlook provided when it reported fourth-quarter results. Trips in the quarter increased 18% to over 3 billion, and monthly active platform consumers (MAPC) increased 14%, with the average MAPC taking 3% more trips than last year. Mobility (moving people) and delivery (delivering stuff) both continue to grow, with mobility revenue up 15% and delivery revenue 18% higher. Freight continues to lag, down about 2% in the quarter.
Uber's revenue also continues to expand outside of the U.S. at a high rate. Adjusted for foreign exchange, gross bookings increased 18%, and revenue was up 17% on a constant-currency basis.
