Connect with us

Hi, what are you looking for?


Uber had an epic Q1 as mobility solutions revenue jumped

Uber (NYSE: UBER) had a strong quarter as demand for its ride-hailing and food-delivery services jumped. The company’s gross bookings soared by 19% in the first quarter to $31.4 billion. This happened even as fears of a recession and weak demand continued.

In a statement, Uber said that its mobility bookings jumped to $15 billion, 40% above where it was in the same quarter in 2022. Delivery gross bookings rose by just 8% as trips rose by 24% in the first quarter. In all, the company’s revenue soared to $8 billion while its loss came in at $157 million. The CFO said:

“We continued to actively manage our balance sheet, exiting our equity position in Yandex.Taxi and refinancing our term loans, and remain focused on disciplined capital allocation over the coming years.”

Uber has emerged as one of the best-performing ride-hailing companies this year because of its global reach and its food delivery services. It also has a strong market share in key countries like the United States, where its primary competitor is Lyft.

Watch here:

Uber stock price has outperformed

Uber stock price has jumped by 32% this year, which is better than other companies. Didi, which focuses on China, has seen its shares jump by 21% while Grab stock has dropped by 8.70%. Lyft stock price has dropped by over 3.90% this year. 

Most analysts believe that Uber stock price has more upside. The quant rating for the stock based on Wall Street and SeekingAlpha analysts is a strong buy. It has the momentum and most analysts believe that the company will continue doing well.

Analysts expect that Uber’s revenue will jump to $56.1 billion in 2026 and to over $91.7 billion in 2032. It is also expected to turn positive in the near term, with EPS set to jump to $6.70 by 2032. It EPS is set to become positive in the fourth quarter.

The post Uber had an epic Q1 as mobility solutions revenue jumped appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...


    A U.S. District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail...

    Latest News

    SEOUL, South Korea — When a group of American lawmakers arrived in South Korea for meetings with government and military officials, President Yoon Suk-yeol...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.