Uber Technologies, Inc. (UBER) reported a stronger-than-expected third-quarter earnings, but a soft forecast for the forthcoming quarter weighed on investor sentiment, sending its shares lower in the pre-market session.

It now expects gross bookings in the fourth quarter to be between $52.25 billion and $53.75 billion, representing a year-over-year growth of 17% to 21% on a constant currency basis.

Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) in the last quarter of the year is expected to be $2.41 billion to $2.51 billion, representing 31% to 36% growth. This is, however, marginally below the $2.49 billion expected by Wall Street analysts.

In the third quarter, the ride-hailing company's revenue increased 20% to $13.5 billion, driven by a 21% rise in gross bookings to $49.7 billion, primarily due to growth in the company's mobility and delivery businesses. This is higher than the $13.3 billion expected by analysts, according to data from Fiscal AI.

Adjusted EBITDA rose 33% to $2.3 billion in the quarter, above an analyst estimate of $2.27 billion.

Uber shares slipped 5% in the pre-market session at the time of writing. 

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