Reported about 5 hours ago
Uber Technologies Inc. reported lower-than-expected fourth-quarter earnings, attributing the shortfall to increased legal expenses and regulatory costs, causing shares to drop by 4%. The company forecasted first-quarter bookings between $42 billion and $43.5 billion, affected by currency challenges and external events like wildfires. While gross bookings rose by 18% to $44.2 billion, adjusted earnings and operational income fell short of analyst expectations. Uber is also addressing rising insurance costs that have impacted ride demand and has initiated several new revenue strategies, including partnerships and subscription models.
Source: YAHOO