Uber Beats Q1 EPS, Sells AV Unit and Sees Lime File for IPO
Uber's Q1 EPS of $0.25 beat estimates by $0.03 as the company forecasts 25% year-over-year bookings growth. Uber has sold its AV unit to become a tech-agnostic platform with $10 billion in autonomous and EV partnerships and Lime filed IPO papers after revenue hit $886.7 million.
1. Q1 Earnings Outperformance
Uber reported first-quarter EPS of $0.25, surpassing consensus by $0.03, and projected 25% year-over-year growth in gross bookings driven by robust ride-hailing demand and improved mobility margins.
2. Strategic Shift in AV Business
In a bid to reduce capital intensity, Uber divested its autonomous vehicle development unit and pivoted to a tech-agnostic aggregator model underpinned by $10 billion in partnerships and EV fleet purchases.
3. Lime IPO Filing
Uber-backed Lime has filed confidential IPO paperwork after annual revenue climbed to $886.7 million, aiming to bolster its balance sheet and address debt concerns ahead of a market debut.