Uber’s Q3 outlook came in below expectations

On August 5, Uber Technologies Inc (NYSE: UBER) reported Q2 profit of $2.39 billion ($1.17 per share) versus $1.36 billion (63 cents per share) a year earlier.

Adjusted earnings per share came in at 81 cents. Revenue rose to $14.19 billion from $12.65 billion. Profit was expected at 81 cents per share on revenue of $14.24 billion. Gross bookings increased to $58 billion from $46.76 billion, beating expectations of $57.23 billion.

For Q3, the company forecasts adjusted earnings per share of 84–88 cents and gross bookings in the range of $58.25–60.25 billion, versus the consensus forecast of 89 cents and $59.33 billion, respectively.