After solid Q2 Uber shares fall 6% on Q3 outlook
Uber's stock took a 6% hit on Wednesday (even though the company just posted solid Q2 results) because its forecast for the next quarter didn't quite meet Wall Street's hopes.
Uber expects $59.25 billion in gross bookings and 84 to 88 cents in earnings per share for Q3, both just under what analysts were looking for, which made investors a bit uneasy.
Uber revenue up 12% to $14.17B
Still, Uber's actual numbers last quarter were impressive: revenue jumped 12% to $14.17 billion and net income hit $2.39 billion ($1.17 per share), with gross bookings beating estimates and profit broadly in line with expectations.
Gross bookings reached $58 billion, with rides up 22% and delivery orders up 26%.
CEO Dara Khosrowshahi pointed out that the World Cup helped a lot (more than 8 million tourists used Uber in host cities) but even with that boost, investors are watching future growth closely.