Uber issues weaker-than-expected bookings, earnings forecasts for third quarter
📰 source: cnbc_topnews · 💼 business
uber issued a third-quarter forecast for bookings and earnings that missed analyst estimates. second-quarter profit came in line with expectations: eps of 81 cents vs 81 cents expected, revenue at $14.19 billion vs $14.24 billion expected, up 12% from a year earlier. net income climbed to $2.39 billion from $1.35 billion.
for q3, uber sees bookings of $59.25 billion at midpoint, below the $59.33 billion consensus, and eps of 84-88 cents, below the 89-cent estimate. total bookings in q2 hit $58 billion, beating the $57.23 billion estimate, with mobility bookings up 22% and delivery up 26%. shares are down 12% this year while the nasdaq is up 14%.
uber is pushing deeper into delivery, announcing a $14.8 billion deal to acquire germany's delivery hero last month. ceo dara khosrowshahi cited the world cup as a boost, with over 8 million tourists taking rides in host cities. the company also plans to commit more than $10 billion to autonomous vehicles, but early partner waymo will end its exclusive agreement in atlanta and austin by early 2028.
why it matters: uber's weak q3 guidance signals slowing ride-hail and delivery demand, while its $14.8b delivery hero deal and av push face execution risk.
source: cnbc_topnews
sentiment: -0.40 · impact: 0.65