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Uber shares decline on mixed earnings results

  • Uber shares closed 2.5% lower following mixed first-quarter financial results.
  • Uber's net income for the quarter was $1.78 billion, exceeding analysts' expectations of 83 cents per share on an adjusted basis.
  • Although Uber's profitability improved faster than anticipated, its revenue of $11.53 billion fell slightly short of expectations.
  • In efforts to sustain growth, Uber is focusing on markets with limited drivers and plans to pilot autonomous vehicles. The company's delivery unit saw an 18% sales increase and is leveraging partnerships and advertising services for further growth.

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