Uber Q1 revenue jumps 14% to $13.2B, forecasts stronger bookings
Business
Uber's first-quarter revenue jumped 14% to $13.2 billion, just shy of what analysts hoped for.
Still, the company is feeling confident, predicting even stronger gross bookings next quarter that will beat Wall Street's expectations.
Uber One surpasses 50 million users
Delivery and freight are pulling ahead, with those segments beating forecasts while ride-hailing came up a bit short.
Uber credits global delivery demand, new markets like Denmark, and efficiency boosts from AI for its growth.
The Uber One membership is also a hit (the program has surpassed 50 million users and accounts for roughly half of Uber's gross bookings).
Investors liked what they saw: shares popped 8% after the news, though challenges like bad weather and high fuel prices remain on the radar.