Uber's Q3 Revenue Surpasses Expectations Despite Sluggish Bookings

The rideshare giant reports strong earnings but faces challenges as gross bookings growth slows and shares drop.

Uber's Q3 revenue reached $11.19 billion, exceeding analysts' expectations of $10.98 billion, driven by a 20% year-over-year growth.
Net income soared to $2.6 billion, significantly up from $221 million in the same period last year, bolstered by a $1.7 billion pre-tax gain from equity investments.
Gross bookings rose 16% to $40.97 billion, falling short of the $41.3 billion expected, contributing to a decline in Uber's stock price.
The company completed 2.9 billion trips in Q3, marking a 17% increase, with monthly active users reaching 161 million, up 13% year-over-year.
Uber forecasts Q4 gross bookings between $42.75 billion and $44.25 billion, with adjusted earnings anticipated to be between $1.78 billion and $1.88 billion.