[Reuters]— Operating profit and sales exceeded market expectations in the first quarter financial results announced on the 4th by Uber Technologies Inc., a major US vehicle dispatcher. He said he had a solid outlook for the second quarter and that there was no need to raise incentives to attract drivers.
Adjusted interest payments, taxes and profit before amortization (EBITDA), excluding one-time costs, was $ 168 million, surpassing the analyst’s estimate of $ 132 million compiled by Refinitiv.
However, the net loss was 5.9 billion dollars, a widening deficit from 108 million dollars in the same period of the previous year. The plunge in the stock of Didi, a Chinese ride-hailing service that it owns, echoed.
Sales surged 136% to $ 6.9 billion, surpassing market expectations of $ 6.13 billion.
Monthly active users were 115 million, down from 118 million in the previous quarter.
The adjusted EBITDA outlook for the second quarter was $ 240-270 million. The market forecast is $ 237 million.
However, Uber’s stock price ended at 4.6% lower.