Uber Stock Sinks as Operating Income Falls Well Short of Estimates | Global News Avenue

Uber Technology (Uber) Stock exchange fell Wednesday, which was reported by the ride-hailing extension giant’s fourth-quarter operating income well below analyst estimates.

Uber registered net income was $6.88 billion, or $3.21 per share, with revenue of $11.96 billion. Analysts already expect Visible Alpha said that profit per share was $1.04 billion, or $0.48 per share, and revenue was $11.76 billion.

The ride-hailing giant’s profits have benefited from “benefiting from tax valuation releases” of more than $6 billion, plus another $556 million in revaluation of the company’s investments.

Uber’s operating income is $770 million, and its estimated revenue is $1.21 billion. Its adjusted EBITDA was $1.84 billion, lower than expected.

Uber stock fell almost 7% immediately after the report. Over the past 12 months, they entered 1% of the time.

Total bookings, travel growth is better than expected

The company reported a 18% increase in bookings totaling $44.2 billion and 3.07 billion trips. Analysts looked for $43.48 billion and $3.02 billion respectively. Uber Last quarter Of the $42.75 billion bookings of $42.75 billion, bookings “similar to the third quarter” were $44.25 billion compared to the third quarter, while the year-on-year travel growth was “similar” when they rose 17% to reach $2.9 billion.

Uber stock fell more than 9% in its third-quarter report, with total bookings of $41 billion, missing estimates.