Uber (NYSE:UBER) shares fell in Wednesday trading after the ride-sharing company reported fourth-quarter results that beat analysts’ expectations for revenue but offered soft guidance.
Earnings per share came in at $3.21. That does not compare with the 50 cents expected by LSEG.
Revenue was $11.96 billion vs. $11.77 billion expected by LSEG.
Uber’s revenue grew 20% in its fourth quarter from $9.9 billion a year prior.
The company reported a net income of $6.9 billion, or $3.21 per share, up from $1.4 billion billion, or 66 cents per share, in the same period last year. Uber said its net income includes a $6.4-billion benefit from a tax valuation release, as well as a $556-million pre-tax benefit thanks to gains from revaluations of its equity investments.
The company reported $44.2 billion in gross bookings for the period, which was above the $43.49 billion expected by analysts, according to StreetAccount. Uber said adjusted EBITDA for its fourth quarter was $1.84 billion, up 44% year over year and in line with the $1.84 billion expected by analysts polled by StreetAccount.
For its first quarter, Uber said it expects gross bookings between $42 billion to $43.5 billion, compared with StreetAccount estimates of $43.51 billion.
UBER shares collapsed $4.75,or 8.3%, to $65.01.
