Uber misses on riders, beats revenue estimates as lockup expiry looms

) on Monday missed Wall Street estimates for monthly active users for its ride-hailing platform, even as it posted better-than-expected quarterly revenue, sending shares down 5% in extended trading.

The company’s shares are expected to be under pressure on Wednesday, when a restriction on selling stock lifts. Some analysts expect more than 80% of the company’s outstanding shares will become eligible for sale. The company and its smaller rival Lyft Inc , which are still making losses, have historically relied on heavy subsidies to attract riders. The companies are also spending to expand into newer areas.

Revenue from Uber’s ride-hailing business rose about 19% to $2.90 billion while sales from its Uber Eats segment rose 64%.

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Biz Uber posted better-than-expected revenue as it nears the end of its restriction on selling stock $UBER

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