5 Companies in Focus After Releasing Their Earnings Reports

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 153

Shares of Uber Technologies, Inc. (NYSE:UBER) fell nearly five percent on Wednesday, May 4, 2022, despite delivering better-than-expected financial results for the first quarter. The ride-hailing giant reported an adjusted loss of 18 cents per share, narrower than analysts’ average estimate for a loss of 24 cents per share.

Revenue for the quarter skyrocketed 136 percent on a year-over-year basis to $6.85 billion, while analysts were expecting Uber Technologies, Inc. (NYSE:UBER) to post revenue of $6.13 billion.

Gross booking for the quarter climbed 35 percent to $26.4 billion, with mobility gross bookings climbing 58 percent to $10.7 billion and delivery gross bookings increasing 12 percent to $13.9 billion in the quarter. In addition, Uber Technologies, Inc. (NYSE:UBER) reported that total trips in the first quarter jumped 18 percent to 1.71 billion.

Looking forward, Uber Technologies, Inc. (NYSE:UBER) expects gross bookings in the range of $28.5 – $29.5 billion and adjusted EBITDA between $240 – $270 million for the second quarter.

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