Uber Falls 5% Following Q2 Results

Uber (NYSE:UBER) experienced more than a 5% decline in its shares intra-day today following the company’s reported Q2 results.

During the second quarter, Uber reported a profit per share of $0.18 on revenue, which was significantly better than the market consensus that had predicted a loss per share of $0.01.

Regarding gross bookings, Uber's Q2 figures amounted to $33.6 billion, with mobility bookings contributing $16.73 billion and delivery bookings contributing $15.6 billion. Both segments showed year-over-year sales growth, with mobility bookings rising by 25% and delivery bookings increasing by 12%.

While the company's total Q2 revenue of $9.23 billion represented a 14% year-over-year increase, it fell just short of the Street estimate of $9.34 billion.

For the current quarter, Uber projects gross bookings to reach $34.5 billion, plus or minus $500 million. This forecast surpasses the consensus estimate of $33.98 billion. Moreover, the company expects to report adjusted EBITDA between $975 million and $1.03 billion, which significantly outperforms the Street estimate of $919 million.