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Uber earnings: Stock drops despite upbeat current quarter guidance

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Uber reported Q1 Gross Bookings of $42.8 billion vs $43.14 billion , up 18% on a constant currency basis.

Q1 adjusted EBITDA (adjusted earnings before interest, taxes, depreciation and amortization) came in at $1.9 billion .

Uber shares dropped in early trade as investors may have been expecting better projections.

CEO Dara Khosrowshahi said the company delivered a "strong start to the year".