Uber (UBER) Stock Tumbles: Q1 Bookings Miss and Unexpected Loss Shakes Investor Confidence

• Uber Technologies (UBER) reported first-quarter earnings with a net loss and revenue slightly ahead of views.
• The company also posted lower-than-expected total bookings, causing Uber stock to slide.
• Uber’s net loss of $654 million includes a $721 million headwind due to “net unrealized losses related to the revaluation of Uber’s equity investments.”

Uber Technologies reports unexpected net loss in Q1 earnings, causing a slide in stock prices. Despite revenue slightly ahead of views, lower-than-expected total bookings have raised concerns.

Unexpected Net Loss in Uber’s Q1 Earnings

Uber reported a loss of 32 cents per share on sales of $10.13 billion for the March-ending quarter, contrary to analysts’ projections of earnings of 22 cents per share on sales of $10.1 billion. This is a significant increase from the same period a year earlier, where Uber lost 8 cents per share on sales of $8.8 billion. The net loss of $654 million includes a $721 million headwind due to “net unrealized losses related to the revaluation of Uber’s equity investments.”

Lower-Than-Expected Total Bookings