Uber’s first-quarter revenues
Uber Technologies (UBER) is scheduled to announce its first-quarter earnings on May 30. The analysts surveyed by Reuters expect the company to report net revenues of $3.04 billion—up 17.5% on YoY (year-over-year) basis and up 2.1% on a sequential basis. For the same quarter, Lyft’s (LYFT) revenues rose 95.4% YoY to $776 million.
Uber’s revenue growth guidance
Analysts’ estimates are in line with Uber’s guidance. The company expects its first-quarter revenues to be between $3.04 billion and $3.10 billion. The guided data imply that Uber’s revenue growth rate in the quarter ending in March 2018 will likely be much lower than Lyft’s revenue growth rate for the same period.
Uber expects its core platform revenues to rise 14.0%–16.3% YoY to $2.90 billion–$2.96 billion.
Uber’s stock price movement
Early on May 30, the broader market opened on a slightly positive note. At 10:48 AM EST, the S&P 500 Index, the NASDAQ Composite Index, and the Dow Jones Industrial Average rose 0.4%, 0.5%, and 0.2%, respectively.
At the same time, Uber stock was trading with 0.6% gains for the day—compared to Lyft’s 1.8% losses.
Uber was still trading well at $40.07, which is well below its IPO price of $45.00 per share. If the company manages to report much better first-quarter results than analysts’ estimates and its own guidance, it might help the stock recover more.