Uber seems to feed the tumult of the global economy, despite the fears that consumers are leafing through the races and deliveries.
The company declared Wednesday that he had $ 11.5 billion in revenue in his last quarter, growing 14 % compared to the previous year and slightly below the expectations of Wall Street investors. Even his total reservations grew by 14 percent, at $ 42.8 billion, which was in line with expectations.
Investors have been anxious to see how the last Round of rates of President Trump could influence Uber's growth. While the company's direct business has little exposure to rates, a hampered economy could make customers less willing to spend on races and deliveries.
But Uber provided that his reservations would increase from 16 to 20 percent in the current quarter, which was higher than the Wall Street estimates of 14 percent. In a statement, Dara Khosrowshahi, Uber CEO of Uber, said that a dizzying background of the titles on commercial and economic policy “, the beginning of the company's year has still been strong.
“The categories in which we operate – these are restaurants, transport, food – tend to be quite consistent categories even during periods of macro uncertainty,” said Khosrowshahi in investors in a call.
The price of Uber shares dropped by 5 % in the hours following the ratio.
Uber's profit for the quarter was $ 1.8 billion, an improvement compared to the loss of the first quarter of last year of $ 654 million, which attributed to an $ 721 million stroke from the revaluations of its investments.
Uber also announced a handful of new autonomous partnerships for vehicles in the first four months of the year, all part of the company's widest strategy to co -opt the growth of the taxi robot companies that could be seen as its competitors.
In March, Uber started an exclusive partnership in Austin, Texas, with the company of autonomous vehicles Waymo, and the agreement will soon expand to Atlanta. Starting from May, Uber had 18 partnerships of active autonomous vehicles.
However, investors combed Mr. Khosrowshahi at the call of profits with questions about Uber market share in the cities where Waymo operated.
“In terms of San Francisco and Los Angeles, the competitive environment is quite stable,” Khosrowshahi said to investors. “We are not seeing any change there.”
While the travel trip still represents most of Uber profits, the company's food delivery activity has grown by 15 percent. The company also spent $ 700 million to acquire a participation of 85 % in Trendyol Go, a platform of Turkish food and food, Tuesday.
And Uber saw some relief from the increase in car insurance costs, which cut the earnings of its drivers. The company has increased its short and long -term insurance reserves in the last quarter compared to a year earlier.
The company has also worked to promote legislation in Georgia, Texas and Nevada who will lower insurance rates, said Khosrowshahi to the call.