Uber Technologies forecast current-quarter adjusted earnings below Wall Street estimates on Wednesday, saying that foreign exchange would trim bookings growth and reaffirming plans to invest heavily in robotaxis and acquisitions.
Investment Plans
The company outlined plans to spend more than $10 billion on autonomous vehicles over the coming years, but did not provide a specific timeline. Shares fell about 3% in premarket trading.
Uber’s second-quarter gross bookings of $58.02 billion topped analysts’ estimates of $57.06 billion, while adjusted core earnings also exceeded expectations. The business benefited from broad-based demand across regions and services during the quarter, including travel linked to the FIFA World Cup.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
