Overview
- Uber reported first-quarter revenue of $13.2 billion with adjusted earnings of 72 cents per share beating forecasts, while GAAP EPS was 13 cents after a $1.5 billion mark-to-market loss on stakes in Didi and Grab.
- Gross bookings rose 25% to $53.7 billion as total trips climbed to 3.6 billion, monthly active users reached 199 million, and Uber One membership topped 50 million.
- Delivery outperformed as revenue grew 34% to $5.07 billion, while Mobility rose 5% to $6.8 billion and felt pressure from higher U.S. gas prices.
- Guidance for the second quarter calls for gross bookings of $56.25 billion to $57.75 billion and adjusted earnings of 78 to 82 cents per share.
- The stock jumped about 8% after the results and several firms raised price targets, with the average 12‑month target near $106.