Uber Technologies, Inc. (UBER) reported its first-quarter results on May 8. The company failed to beat the consensus EPS estimate, but its revenue came above Wall Street estimates. In this piece, I have discussed why waiting for an opportune entry point in the stock could be prudent.
For the first quarter, analysts expected an EPS of $0.22, but UBER reported a loss per share of $0.31. On the other hand, its revenue came 0.4% above Wall Street estimates. The ride-hailing app’s Monthly Active Platform Consumers (MAPCs) rose 15% year-over-year to 149 million. Also, its gross bookings increased 20% over the prior-year quarter to $37.65 billion. Its gross bookings came below estimates of $37.93 billion.
