Execution time2024-05-08 23:05
The Uber logo on the New York Stock Exchange monitor
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(New York = Yonhap News) Reporter Ji-heon Lee = It was found that the total booking performance of Uber, an American ride-hailing company, in the first quarter did not meet market expectations. Uber’s stock price plunged at the market open on the 8th (local time).
In the performance report released today, Uber announced that reservations in the first quarter totaled $37.7 billion.
This is an increase of 20% compared to the same period last year, but is lower than the forecast ($38 billion) presented by the company when announcing its performance in February.
Sales were $10.13 billion, slightly above the expert estimate ($10.11 billion) compiled by market research firm LSEG.
Prashant Mehandra-Raja, Uber’s chief financial officer, attributed the lower-than-expected overall bookings to “weakening ridership activity in Latin America, as well as the early start of the Easter and Ramadan weeks.”
On this day, Uber’s stock price on the New York Stock Exchange was trading down about 5% at the start of the market opening.
After the pandemic, profitability in the mobility sector recovered significantly as people got out more and people working from home returned to work.
The food delivery business also saw a drop in its high growth rate during the pandemic, but Uber’s stock price has doubled since last year as demand remains robust.
In particular, in February, when the company announced its first ever plan to buy back $7 billion worth (about 9.5 trillion won) of stock, its stock price was at an all-time high.
pan@yna.co.kr
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2024/05/08 23:05 Sent
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