Uber shares retreat as weak outlook overshadows Q2 earnings and bookings beat

Uber Technologies Inc (NYSE:UBER, XETRA:UT8) shares fell about 6% in early trading Wednesday after the ride-hailing company issued a third quarter outlook that fell short of some Wall Street expectations, overshadowing better-than-expected gross bookings and adjusted EBITDA in the second quarter. For the third quarter, Uber expects adjusted EPS of $0.84 to $0.88, below the Wall Street average estimate of $0.89.