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Why Uber Shares Are Falling

Uber Technologies Inc (NYSE: UBER) shares are trading lower by 3.96% to $34.47 Friday afternoon possibly in sympathy with Lyft Inc (NASDAQ: LYFT), who issued first-quarter revenue guidance below analyst estimates.
byHenry Khederian
February 10, 2023
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Uber Technologies Inc (NYSE:UBER) shares are trading lower by 3.96% to $34.47 Friday afternoon possibly in sympathy with Lyft Inc (NASDAQ:LYFT), who issued first-quarter revenue guidance below analyst estimates.

See Also: Hey, Lyft, Uber Has You Beat: 4 Analysts Discuss Weak Guidance, Q4 Earnings Miss

What Else?

Our Benzinga team reported Lyft partially blamed $201.3 million in stock-based compensation and related payroll tax expenses, as well as restructuring charges related to its recent wave of layoffs for the earnings miss.

Looking ahead, Lyft guided for first-quarter revenue of $975 million, up from $876 million a year ago but well short of analyst estimates of $1.09 billion…Read More

According to data from Benzinga Pro, Uber has a 52-week high of $38.65 and a 52-week low of $19.90.

 
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