00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Uber reported first quarter revenue that missed estimates,
00:06but issued current quarter bookings guidance that exceeded analysts' expectations,
00:10according to CNBC. Earnings per share came in at $0.13 versus $0.70 expected,
00:16while revenue was $13.2 billion compared with $13.29 billion expected.
00:22The rideshare platform said,
00:24a $1.5 billion hit from equity investment revaluations reduced net income to $263 million
00:31from $1.78 billion a year earlier, while non-GAAP earnings per share were $0.72.
00:38Uber reported 3.6 billion trips in the first quarter,
00:42and gross bookings rose 25% to $53.7 billion, beating the $52.8 billion estimate.
00:51It expects second quarter bookings of $56.25 billion to $57.75 billion,
00:59above the $56.17 billion consensus estimate.
01:03Uber is investing in autonomous vehicles and plans to purchase them from partners
01:08once they are validated as safe to operate without a human driver.
01:13Shares rose 10% following the earnings report.
01:15For all things money, visit Benzinga.com.
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