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Uber Reports Strong Earnings, but Stock Drops as Bookings Miss Estimates

Analysts expressed concerns over the pricing dynamics and the competitive landscape in delivery and mobility businesses.
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Uber Reports Strong Earnings, but Stock Drops as Bookings Miss Estimates
An Uber sign at Los Angeles International Airport on July 10, 2022. David Swanson/Reuters
Panos Mourdoukoutas
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News Analysis

Uber Technologies reported first-quarter earnings that beat analyst expectations, but its stock price fell due to lower-than-expected revenue and bookings, as well as concerns about its valuation.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”