Uber shares fall after third-quarter outlook misses estimates

Uber reported secondquarter results that were broadly in line with Wall Street expectations, but its outlook for the next quarter came in below analyst forecasts. The company said revenue rose 12% year over year to $14.19 billion, while net income increased to $2.39 billion. The ridehailing and delivery company said thirdquarter bookings are expected to reach $59.25 billion at the midpoint of its forecast range, slightly below the average estimate tracked by analysts. Its earnings outlook also missed expectations, which weighed on the stock after the report. Uber said mobility and delivery both posted strong booking growth in the quarter. The company also pointed to continued investment in autonomous vehicles and recent expansion efforts, including a planned deal to buy Germany's Delivery Hero and new progress on robotaxi plans in London.