Uber shares tumble as second-quarter forecast disappoints

Uber's shares fell nearly 7% after forecasting second-quarter gross bookings below market expectations, following a miss in the first quarter. This downturn reflects a demand slump in both its ride-share and food delivery services. In contrast, Lyft reported strong results and an optimistic outlook, boosted by new CEO David Risher's strategies such as reduced wait times and competitive pricing. Despite the bookings shortfall, Uber's adjusted core profit projections for the second quarter are slightly above market forecasts, indicating some success in its profitability efforts.