Uber's gross bookings reached $41 billion in Q3, a 16% increase year-on-year, but fell slightly short of analyst expectations, causing shares to drop over 10%.
CEO Dara Khosrowshahi expressed excitement over Q3 results but acknowledged market expectations are tough to gauge, indicating ongoing challenges for the ride-sharing sector.
CFO Prashanth Mahendra-Rajah noted that trip activity for Q4 will align closely with Q3, potentially facing challenges due to rising pricing pressures.
Despite slower US transaction growth due to higher insurance costs being passed to customers, Khosrowshahi remains generally optimistic about the US market's outlook.
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