Uber posts strong quarter but stock struggles amid autonomous vehicle uncertainty

Uber reported a strong first quarter with $53.7 billion in gross bookings, beating expectations and growing its Uber One loyalty program to 50 million subscribers. Adjusted EBITDA of $2.48 billion and positive second-quarter guidance show solid operational momentum. However, revenue was slightly below estimates due to external factors like weather and fuel costs, which Uber partially offsets with driver fuel discounts. The company is heavily investing in autonomous vehicle technology, aiming to be a platform for self-driving fleets, but regulatory and tech uncertainties cloud the stock's outlook despite operational gains.