• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Uber Says It Is Recovering From The Coronavirus Pandemic, Revenue Beats Estimate

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
May 4, 2022
in Uncategorised
Share on FacebookShare on Twitter

Uber reported its first-quarter earnings on Wednesday and the company said that it is recovering from the lows it experienced as a result of the Coronavirus pandemic. The company said it wouldn’t have to go through much trouble investing in incentives for drivers on the platform.

The company reported a loss of $5.8 billion in the first quarter and attributed this loss to the revaluation of equity investments. Uber shares were down over 10 percent in pre-market trading.

Uber reported loss per share of 18 cents compared to the 24 cents that analysts had forecasted, according to Refinitiv. Revenue came in at $6.85 billion beating analysts’ estimate of $6.13 billion, according to Refinitiv.

The company said it expects gross bookings of between $28.5 billion and $29.5 billion. It also expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of between $240 million and $270 million. The company also added that it expects to generate “meaningful positive cash flows” for full-year 2022, which would mark a first for the company.

In a statement, Uber CEO Dara Khosrowshahi said that gross mobility bookings for April surpassed 2019 levels across all use cases and regions.

Uber had a net loss of $5.9 billion in the first quarter. It blamed its equity investment in Chinese ride-hailing titan Didi, Grab (a Southeast Asian mobility and delivery company), and autonomous vehicle company Aurora. The company has the liquidity to maintain its positions and wait for a better time to sell, CFO Nelson Chai said.

In the quarter, its adjusted EBITDA was $168 million, up $527 million from the same quarter a year ago.

Revenue was up 136 percent YoY to $6.9 billion. Gross bookings for mobility came in at 410.7 billion and was up 58 percent YoY while gross bookings for delivery came in at 413.9 billion, up 12 percent YoY.

The company reported 1.71 billion trips in the first quarter. This is up 18 percent from the first quarter of 2021. Monthly active platform consumers was up 17 percent YoY at 115 million. Uber drivers and couriers earned a total of $9 billion in the first quarter.

Rival company Lyft reported its first-quarter earnings on Tuesday and issued weak guidance for the current quarter.

Related Posts:

  • Uber's Beats Estimate For Revenue, Shares Soar By…
  • Uber Reports Better-than-expected Third-quarter…
  • Etsy Surpasses Second Quarter Estimates, Shares Soar More Than 15 Percent
    Etsy Surpasses Second Quarter Estimates, Shares Soar…
  • DocuSign Shares Decline After The Company Reports…
  • Amazon Reports Impressive Results, Issues Positive Guidance For The Next Quarter
    Amazon Reports Impressive Results, Issues Positive…
  • Robinhood Reports Disappointing Quarterly Report, To Cut Its Workforce By 23 Percent
    Robinhood Reports Disappointing Quarterly Report, To…
  • DoorDash Shares Pop 18 Percent On Impressive Second…
  • DoorDash Reports Better-than-expected Third-quarter Sales And Total Orders
    DoorDash Reports Better-than-expected Third-quarter…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • DOJ Reportedly Investigates Google’s Character.AI Partnership May 23, 2025
    • Sony Organises A PlayStation Event for June; A State of Play May 23, 2025
    • Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials May 23, 2025
    • Bluesky Starts Confirming “Notable” Users May 23, 2025
    • Affiniti Raises $17M for AI-Powered Small Business Finance May 22, 2025
    • Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data May 22, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    May 23, 2025
    Sony Organises A PlayStation Event for June; A State of Play

    Sony Organises A PlayStation Event for June; A State of Play

    May 23, 2025
    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    May 23, 2025
    Bluesky Starts Confirming “Notable” Users

    Bluesky Starts Confirming “Notable” Users

    May 23, 2025
    Affiniti Raises $17M for AI-Powered Small Business Finance

    Affiniti Raises $17M for AI-Powered Small Business Finance

    May 22, 2025
    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    May 22, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok