Uber Shares Dip Premarket Despite Strong Annual Results
Key Highlights:
* Uber shares fell up to 7% premarket due to lower-than-expected operating profit.
* Operating profit for Q4 was $770 million, below forecasts of $1.2 billion.
* The company posted a second annual profit with adjusted EBITDA of $6.5 billion.
* Gross bookings for Q1 expected to rise 17%-21% year-over-year.
* CEO Dara Khosrowshahi highlights strong growth in consumers, trips, and bookings.
* Revenue increased 20% to $12 billion, exceeding expectations.
* Uber plans to actively buy back shares due to undervaluation.