Uber reports Q1 revenue of $3.1B, up 20% YoY, gross bookings of $14.65B, up 34%, net loss of $1.01B; Uber Eats revenue grew 31% to $239M, gross bookings up 108%
and Wall Street is thrilled Tweets: @cnbc : “We're probably a couple years away from really being in the clear here.” Here's what 3 experts had to say about Uber's first-ever quarterly earnings report last night. https://www.cnbc.com/... https://twitter.com/... Shira Ovide / @shiraovide : Uber Latin America rides + Eats revenue fell 13% in 1Q. First glimpse I've seen of the toll on Uber from tough competition in Latin America, which is backed by SoftBank (also a big backer of Uber). https://twitter.com/... Andrew J. Hawkins / @andyjayhawk : @vox_union speaking of, Uber's earnings are out, and they're grimmmmmm. $1.034B in net losses on $3.099B revenue https://www.businesswire.com/ ... Dara Kerr / @darakerr : Uber posted a loss of $2.26 per share, which was pretty much on par with analysts estimates https://www.cnet.com/... Eric Newcomer / @ericnewcomer : Uber gives its first two analyst questions to Morgan Stanley and Goldman Sachs... its two lead bankers... Faiz Siddiqui / @faizsays : Uber CEO Dara Khosrowshahi says the company is noticing less price competition from rivals in US and around the world, naming Lyft specifically. “I think competing on brand as opposed to product ... is a healthier mode of competition than just throwing money at a challenge.” Sara Ashley O'Brien / @saraashleyo : Dara answering competition/pricing Q on $UBER call: “we're always uncomfortable in our chairs but we're less uncomfortable... i say today, we feel better on the competitive front on a global basis.” Alison Griswold / @alisongriswold : The market has no idea what to make of Uber's earnings Jon Erlichman / @jonerlichman : Number of restaurants on Uber Eats: May 2019: +200,000 Jun 2018: 120,000 May 2018: 100,000 Nov 2017: 80,000 Jul 2017: 60,000 Apr 2017: 46,000 Oct 2016: 20,000 Feb 2016: 900 Ari Levy / @levynews : Investors: As a public company, Uber will have to report metrics that make sense to Wall Street. Uber: pic.twitter.com/P5liVSGoO9 Steve Kovach / @stevekovach : There it is. $UBER in line with expectations, which was, uh, expected, because they pre-reported results in their last filing https://www.cnbc.com/... @alex : Uber rev from LATM off 13% YoY - oof.op cash burn at Uber in Q1: $722M, up from $297M a year ago. Amir Efrati / @amir : Tough in Q1 🚗Uberland🚙.To grow revenue 20% year over year, Uber burned 120% more money.For 🍟Uber Eats🍔, it had to raise “excess driver incentives” by $200 million to grow revenue by $253 million.Possible good news on the horizon thohttps://t.co/o1e5Ple7W2 $uber @alex : $UBER rev of $3.099B in Q1, compared to $2.974 in Q4 2018. Up 20% YoY, net loss exploded 116% to $1.034Bnot a very good set of numbers; q is now how investors weigh them.