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Uber shares drop sharply in premarket trade after it misses on earnings-per-share, but bookings jump by a fifth

Uber shares drop sharply in premarket trade after it misses on earnings-per-share, but bookings jump by a fifth

Uber’s share price dropped as much as 8% in premarket trading Wednesday after it reported a mixed bag of Q1 results.

Its gross bookings of $37.7 billion were up 20% compared to the same period last year, but fell short of its target. Plus, its forecast for gross bookings in the second quarter was also shy of Wall Street’s expectations.

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