Uber’s ride results disappoint even as bookings top estimates

Uber's results are likely to set expectations for the broader ride-hailing and food-delivery industries. — Bloomberg

UBER Technologies Inc’s rideshare division missed Wall Street estimates, disappointing investors who were looking for signs of more robust demand in its signature business. 

Total gross bookings – a closely watched metric that includes ride hails, delivery orders and driver and merchant earnings but not tips – came in at US$46.8bil for the three months ended June 30, topping analysts’ estimates.