Transportation
Uber Shares Fall on Weak First-Quarter Gross Bookings Guidance
- Firm says currency headwinds, harsh weather impacted outlook
- Results overshadowed 18% fourth-quarter bookings growth
This article is for subscribers only.
Uber Technologies Inc. issued a first-quarter bookings outlook that disappointed analysts, cautioning that currency headwinds and severe winter weather would have an impact on trips and deliveries in the current period.
Gross bookings, which includes ride hails, delivery orders and driver and merchant earnings but not tips, will be $42 billion to $43.5 billion for the first quarter, Uber said in a statement on Wednesday. Fourth-quarter bookings grew 18% to $44.2 billion.