Uber Technologies (UBER) shares slumped 8.3% in recent Wednesday trading following a surprise Q1 loss.
The net loss of $0.32 per diluted share widened from the loss of $0.08 a year earlier, the company said Wednesday. Analysts polled by Capital IQ expected earnings of $0.22.
Revenue in the quarter ended March 31 rose to $10.13 billion up from $8.82 billion a year earlier. Analysts surveyed by Capital IQ expected $10.09 billion.
Gross bookings rose to $37.65 billion from $31.41 billion a year earlier. The consensus on Visible Alpha was $38.02 billion.
The ride-hailing company expects Q2 gross bookings of $38.75 billion to $40.25 billion. Adjusted earnings before interest, taxes, depreciation, and amortization will likely be $1.45 billion to $1.53 billion, the company said.