GoKawiilIn this article UBER Follow your favorite stocks CREATE FREE ACCOUNT
watch now
Uber issued a forecast for bookings and earnings that trailed analysts' estimates, while second-quarter profit was in line with expectations. Shares sank about 3.5% on Wednesday following the print. Here's how the company did versus analysts' estimates compiled by LSEG: Earnings per share: 81 cents vs. 81 cents expected
81 cents vs. 81 cents expected Revenue: $14.19 billion vs. $14.24 billion expected Revenue increased 12% from $12.65 billion a year earlier. Net income climbed to $2.39 billion, or $1.17 a share, from $1.35 billion, or 63 cents a share, a year ago. Uber's core mobility service accounted for $7.36 billion of second-quarter sales, while delivery revenue reached $5.25 billion. Mobility gross bookings rose 22% from a year to $28.99 billion, and delivery bookings jumped 26% $27.46 billion. Total bookings of $58 billion topped the $57.23 billion average analyst estimate, according to StreetAccount. For the third quarter, Uber sees bookings of $59.25 billion at the middle of its range. That trails the average StreetAccount estimate of $59.33 billion. And the company's EPS forecast of 84 cents to 88 cents fell below the 89-cent average analyst estimate, according to LSEG. Uber shares are down 12% this year as of Tuesday's close, while the Nasdaq is up 14% over that stretch.
Stock Chart Icon Stock chart icon Uber stock chart
Uber is pushing further into deliveries, and last month announced a $14.8 billion agreement to acquire Germany's Delivery Hero. That deal will increase the number of markets where Uber can deliver food and groceries. CEO Dara Khosrowshahi said in prepared remarks ahead of the earnings call that the World Cup was a boon for the ride-hail business in the quarter. More than 8 million tourists took rides across host cities in the U.S., Canada and Mexico Uber is also continuing to make big bets on autonomous vehicles.