Uber posts $1 billion loss despite higher revenue

Channel: Fox Business
Published: 5 hours ago

Description
FOX Business’ Susan Li reports on Uber’s first earnings report. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched...



Transcript
Do you have those results from uber just out susan li of the newsroom? What are we seeing susan guys, so the first report card from the uber revenue coming in a little bit better than expected, so we're looking at a 20 percent increase from last year. Revenue coming in too close to 3. 0 1 billion, let's call it 3. 0 9 9 billion a little bit higher than what the market had penciled in for the quart ...
r and when it comes to profit in line pretty much met. Expectations. Gross bookings was up from last year as well. Gross bookings is basically the amount of ride-hailing that uber booked in the first three months of the year, andthat's close to a 15. Let'S call it 14 and a half billion dollar clip that's up 34 % from last year. So let's say that this report card hit on the higher metrics of expectations. They did pretty well now. We are looking for guidance for the next quarter as well for revenue and earnings per share, especially as we're looking at losses of close to over a billion dollars, or so guys, susan, not much movement. Thank you in the after hours for the stock, at least so far,.



Watch Next

Loading...