Uber Beats on Bookings Outlook in Sign of Growing US Demand

Uber Technologies Inc. provided a better-than-expected forecast for bookings, signaling that robust demand from US commuters and travelers will offset impact from geopolitical tensions in the Middle East.

The ride-hailing service guided total gross bookings to between $56.25 billion and $57.75 billion for the three-month period ending in June, while analysts on average looked for $56.23 billion. Total gross bookings include ride hails, delivery orders and driver and merchant earnings but not tips.