Thursday, May 30, 2019

"Uber stock rises as net losses match expectations" (UBER)

Some cynic (Wilde) once said second marriages are the triumph of hope over experience.
Ditto for buying Uber.
After an initial jump the stock is now down 8 cents.
AH high $ 41.25
AH low  $ 39.33
$39.72 last.

From CNBC:
  • Uber reported earnings for the first time as a public company on Thursday after the bell.
  • Uber reported a net loss of $1.01 billion for the quarter, in line with analysts’ expectations.
  • The company reported total revenue of $3.10 billion, at the top end of its preliminary estimates for the quarter.
Uber reported earnings for its first time since its public market debut earlier this month, reporting revenue at the top end of its preliminary estimates and roughly matching analyst estimates for net losses. The stock was up about 1% during after hours trading.
Here are the numbers Uber reported for the first quarter of 2019:
  • Net loss: $1.01 billion, vs. $1.01 billion estimated, according to Refinitv
  • Revenue: $3.10 billion, vs. $3.04 billion estimated, according to Refinitiv
Uber’s revenue came in at the high end of its expected range provided in an unaudited filing ahead of its IPO. It marks a 20% increase from the same period last year when Uber reported $2.58 billion in revenue. Uber’s net income fell into the negative compared to its net income of $3.75 billion in the first quarter of last year.
Uber reported gross bookings for the quarter of $14.65 billion, up 34% from the same period in 2018. Gross bookings measures the total dollar value paid for its services including taxes, tolls and fees, but not tips. Uber grew its monthly active platform consumers 33% from last year’s quarter to 93 million....

Here's the press release at the company:
Uber Reports First Quarter 2019 Results

More to come.