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The Economic Times
The Economic Times
Business
Akash Podishetti

Uber shares drop 6% as weak forecast overshadows strong bookings

Uber shares fell 6% after the company gave a softer-than-expected forecast for third-quarter bookings and earnings, even as its second-quarter revenue and gross bookings showed strong growth.

The ride-hailing and delivery company said revenue rose 12% year-on-year to $14.17 billion from $12.65 billion. Net income increased to $2.39 billion, or $1.17 a share, from $1.35 billion, or 63 cents a share, in the same quarter last year.

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