Uber Shares Plummet as Second-Quarter Forecast Falls Below Expectations
Bengaluru, India – Uber has predicted lower-than-expected gross bookings for the second quarter, following a disappointing performance in the first three months. This news caused a drop of nearly 7% in the company’s shares before the market opened on Wednesday. The decrease in a significant metric that reflects the total revenue generated on the Uber platform signifies a decline in demand for their ride-share and food delivery services. In contrast, Uber’s competitor Lyft exceeded expectations …