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Uber’s Q1 Earnings: Analysts’ Latest Estimates

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May. 30 2019, Published 12:00 p.m. ET

Uber’s first-quarter earnings

Uber Technologies (UBER) is scheduled to release its first quarterly report as a public company after the closing bell on May 30. The company made its public debut and started trading on the New York Stock Exchange on May 10. Lyft (LYFT) started trading on the NASDAQ on March 29. Both of the ride-sharing companies have faced negative stock price action.

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Analysts’ latest estimates

According to the latest data compiled by Thomson Reuters, analysts expect Uber to report an adjusted net loss per share of $2.26 in the first quarter. Lyft reported an adjusted net loss of $48.53 per share for the quarter ending in March.

In the fourth quarter of 2018, Uber reported a net loss of ~$887 million on a GAAP (generally accepted accounting principles) basis. The net loss figure was better than its $986 million net loss in the third quarter of 2018 but worse than its $643 million net loss reported in the fourth quarter of 2017.

Uber’s guidance

Analysts expect Uber’s adjusted net loss in the first quarter to widen to nearly $1 billion. According to the company’s SEC filing in April, it expects the first-quarter net loss to be between $1.0 billion and $1.1 billion this year—compared to its net income of $3.7 billion in the first quarter of 2018. The company expects its rising losses from operations to harm its first-quarter earnings.

Uber’s plan to sell and exit its Russia and Southeast Asia operations boosted the company’s results in the first quarter of 2018. During the same quarter, Uber’s investments in Didi Chuxing Technology rose by nearly $2 billion on a year-over-year basis.

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