Uber Q1 results have arrived

Uber Technologies Inc. (UBER) reported its latest financial results on Wall Street on Wednesday.

World’s largest ridesharing company reported revenue of $6.854 billion (up 135% from the same period last year) vs. $6.098 billion expected.

The company reported a loss per share of -$3.04 for the first three months of 2022 vs. -$0.27 loss per share expected.

CEO of Uber, Dara Khosrowshahi commented on the latest results: ”Our results demonstrate just how much progress we’ve made navigating out of the pandemic and how the power of our platform is differentiating our business performance.”

“We are pleased with our Q1 results, with outperformance of our quarterly guidance and strong incremental margins,” said Nelson Chai, CFO of the company.

”With free cash flow approaching breakeven in Q1, we now expect to generate meaningful positive free cash flows for full-year 2022,”  Chai concluded.

Uber Technologies Inc. chart

Shares of Uber were down by 4.65% at the end of the trading day on Wednesday at $24.10 per share – the lowest level since April 2020.

Here is how the stock has performed in the past year:

• 1 Month -15.89%
• 3 Month -24.40%
• Year-to-date -32.98%
• 1 Year -45.10%

Uber price targets

• Citigroup: $50
• Morgan Stanley: $68
• Wedbush: $48
• Deutsche Bank: $50

Uber Technologies Inc. is the 299^th largest company in the world with a market cap of $54.97 billion.

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Sources: Uber Technologies Inc., TradingView, CompaniesMarketCap