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Uber stock closes 11% higher as earnings, forecast beat expectations across the board

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Uber reported a first-quarter net loss of $157 million, or 8 cents a share, compared with a loss of $5.9 billion, or $3.04 a share, in the year-earlier period. $UBER got a big boost after the company issued an upbeat outlook for the current quarter:

Shares of Uber Technologies Inc. got a big boost Tuesday after the ride-hailing giant reported strong growth and issued an upbeat outlook for the current quarter.

Uber UBER stock ended regular trading at $36.52, an increase of 11.5%, its largest percentage increase since it reported results in November and saw its shares surge almost 12%. The company’s shares have now risen for five consecutive days, for a total of more than 23%.

 

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