Why Uber Shares Are Trading Lower During Friday's Session

Uber Technologies Inc UBER shares are trading lower by 4.31% to $34.67 Friday afternoon in sympathy with peer online food order demand aggregator DoorDash Inc DASH after the company reported fourth-quarter earnings results.

What Happened?

DoorDash on Thursday reported fourth-quarter revenue growth of 40% year-over-year to $1.81 billion, above analyst estimates of $1.77 billion. The news was initially followed by a marked rise in share price in the after-hours session. DoorDash reported a loss of $(1.65) per share, higher than the $(0.68) consensus.

Meanwhile, our Benzinga team reported DoorDash said it expects first-quarter Marketplace GOV to be in a range of $15.1 billion to $15.5 billion, with first-quarter adjusted EBITDA expected to be in a range of $120 million to $170 million...Read More

According to data from Benzinga Pro, UBER has a 52-week high of $37.58 and a 52-week low of $19.90.