Uber Technologies’ (UBER) Q1 revenue is expected to be slightly higher than the consensus of $10.088 billion, BofA Securities said in a Monday note.
The firm said it forecasts a revenue of $10.093 billion for the ride-hailing company, which is set to release Q1 results on May 8.
BofA said that the “bright spot” for the quarter is expected to be Uber’s mobility business, for which the firm anticipates “modestly accelerating” year-over-year growth on a foreign exchange-neutral basis to 29%.
The firm said that based on data on mobility and the company’s historical guidance, it expects a Q2 bookings guidance range of $39.5 billion to $40.5 billion, the midpoint of which is inline with the consensus of $40 billion.
BofA maintained its buy rating and $91 price objective on Uber.