Uber shares tumble 9% on surprise net loss, weak second-quarter forecast
Wed, May 8, 2024 8:48 PM

Uber shares tumble 9% on surprise net loss, weak second-quarter forecast

A Flip by Avya Verma
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Uber posted a surprise first-quarter loss and forecast gross bookings in the second quarter below Wall Street expectations, sending the shares of the ride-share and food delivery company down nearly 9% on Wednesday. The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.

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