01:02 PM EDT, 04/29/2024 (MT Newswires) -- 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 ( UBER ) 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 ( UBER ).

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