Uber retreats after Q1 rev misses expectations

Shares of Uber Technologies UBER.N down 3.1% at $83.15 early Weds and threatening to snap three-session winning streak after qtrly rev missed Wall Street's expectations

San Francisco, California-based firm's growth in its ride-hailing unit slowed to weakest since the pandemic, amid uncertain economic outlook

Total Q1 rev rose 14% y/y to $11.53 bln, below consensus of $11.62 bln, per LSEG data

Though adj EPS of 83 cents/sh surpassed analysts' estimate by 33 cents

For current-qtr, co sees adj EBITDA of $2.02-$2.12 bln compared to estimate of $2.04 bln

46 of 54 analysts covering UBER rate stock "strong buy" or "buy", rest rate "hold" and their median PT is $90, latest LSEG data shows

Even with move on Weds, stock up ~38% YTD

Shares of rival Lyft LYFT.O off ~2% on Weds. Lyft's Q1 financial results due on Thurs after the bell