Overview
- Uber reported Q1 revenue of $11.53 billion, a 14% increase year-over-year but below analysts' expectations of $11.62 billion.
- Adjusted EPS for the quarter was $0.83, significantly surpassing the $0.50 forecast by analysts.
- Gross bookings rose 14% to $42.82 billion, driven by 15% growth in ride-hailing and 18% growth in delivery, though both slightly missed projections.
- The company issued optimistic Q2 guidance, forecasting gross bookings of $45.75–$47.25 billion and adjusted EBITDA of $2.02–$2.12 billion, exceeding Wall Street estimates.
- CEO Dara Khosrowshahi highlighted autonomous vehicles as Uber's key growth opportunity, with partnerships like Waymo achieving high utilization rates in Austin, Texas, and plans for continued expansion.