5/4, 1:05 PM (Source: TeleTrader)
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Uber's revenue jumps 136% in Q1 to $6.9B

Uber Technologies Inc. reported on Wednesday its revenue for the first quarter of 2022 jumped 136% to $6.9 billion. Meanwhile, net loss increased from $108 million in Q1 2021 to $5.9 billion, while loss per share went from $0.06 a year ago to $3.04 in Q1 2022. Gross bookings grew 35% year-over-year.

"We are pleased with our Q1 results, with outperformance of our quarterly guidance and strong incremental margins," said CFO Nelson Chai. "With free cash flow approaching breakeven in Q1, we now expect to generate meaningful positive free cash flows for full-year 2022."

Uber stock fell by 3.77% in the premarket after the earnings release.

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