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Uber drops 5% after Q2 beats, while third-quarter guidance disappoints
The stock closed at $68.18, down 5.29%, after trading volume jumped to 46.2 million shares, about 125% above its three-month average.
Uber Technologies shares slid 5.29% to close at $68.18 after second-quarter results showed bookings and profit above estimates, but the company’s third-quarter guidance came in below expectations, according to Yahoo Finance.
Yahoo Finance also said trading volume rose to 46.2 million shares, roughly 125% higher than Uber’s three-month average of 20.5 million, as investors looked ahead to further earnings and bookings guidance.
In broader market context, Yahoo Finance reported the S&P 500 slipped 0.19% to 7,722, while the Nasdaq Composite declined 0.83% to 26,363.
Uber additionally announced that its autonomous mobility capabilities are live in seven cities and will expand to eight more by year end across locations including California, the U.K., Germany, Spain, and Japan, Yahoo Finance said.
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