Uber Tech (UBER)

[winston]

not vested

Uber Technologies Inc on Wednesday set its sights on delivering profits this year after rounding off 2022 with blow-out earnings as a surge in demand for airport and office rides, helped the company rebound from pandemic lows.

Uber forecast adjusted EBITDA between $660 million and $700 million for the first quarter, well above the average analyst estimate of $593.06 million, according to Refinitiv data.

Uber, which operates in over 70 countries and 10,000 cities, said new rideshare products such as pre-booking, shared rides, car rentals and car-sharing, was also boosting revenue.

Chief Executive Khosrowshahi said active drivers on the platform reached an all-time high in the fourth quarter and continued to grow in January, putting behind worries of a shortage of drivers signing up as demand jumped.

Source: Phillips

[winston]

not vested

Uber Technologies Stock Surges As Ride Revenues Surge, Q4 Loss Narrows

“We ended 2022 with our strongest quarter ever, with robust demand and record margins,” said CEO Dara Khosrowshahi.

by MARTIN BACCARD

Revenues for the three months ending in December rose 49% from last year to $8.6 billion, topping Street forecasts of an $8.49 billion tally, as gross bookings rose 19% to $30.7 billion.

Rides revenues were up 82% to $4.14 billion, Uber said, while delivery rose 21% to $2.93 billion.

Net loss narrowed 33.3% from last year to $595 billion.

Source: The Street

https://www.thestreet.com/markets/uber- ... %2BNarrows

[behappyalways]

Uber, Lyft Shift Into Gear As California Court Rules Gig Workers Are Contractors
https://www.zerohedge.com/markets/uber- ... ontractors

[behappyalways]

Uber Accused Of Price Surging Customers If Phone Battery Is Low
https://www.zerohedge.com/technology/ub ... attery-low

[winston]

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Uber Technologies (UBER)

UBER shares have put in an excellent showing this year, up by 75% so far, a trend that continued following the release of the company’s Q1 results in early May.

Gross Bookings increased by 19% year-over-year to $31.4 billion while revenue rose by 27.5% y/y to $8.8 billion, while beating the Street’s call by $90 million.

EPS of -$0.08 improved on the $0.27 delivered in the same period a year ago and edged ahead of Street expectations – by $0.01.

The company delivered record free cash flow of $549 million and signaled it expects profitability to keep on expanding in Q2.

Oppenheimer’s 5-star analyst, Jason Helfstein, notes the strong year-to-date performance, but touts Uber as still being a “top large-cap pick” and thinks there are strong catalysts ahead.

“Shares stand to benefit from impending S&P 500 inclusion as soon as December. We expect Uber will be eligible to enter the index this December after reporting expected GAAP profitability in 3Q23, bringing TTM GAAP net income positive. Index inclusion generally increases demand for a stock, forcing mutual and index fund buying.”

These comments form the basis for Helfstein’s Outperform (i.e., Buy) rating, while his $65 price target suggests shares will climb ~50% higher over the coming year.

Overall, this is a rare stock with a lot of coverage where everyone is in agreement. Based on a unanimous 30 Buys, UBER claims a Strong Buy consensus rating. At $52.18, the average target makes room for 12-month gains of 20%. (See Uber stock forecast).

Source: Tip Ranks

[behappyalways]

$UBER has emerged from the COVID era much more diversified, growing their delivery and freight revenue significantly

https://twitter.com/Mayhem4Markets/stat ... 3098320897

[winston]

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Uber Posts First Quarterly Profit, Shares Slump On CEO Warning

"Robust demand, new growth initiatives and continued cost discipline, resulted in an excellent quarter and a GAAP operating profit, for the first time in Uber’s history”.

by MARTIN BACCARDAX

Shares slumped lower, however, after CEO Dara Khosrowshahi cautioned that ride-sharing rival Lyft (LYFT) a "tough competitor", is starting to become "competitive in pricing" in the U.S. market.

Uber said revenue for the three months ended in June rose 14.4% from a year earlier to $9.23 billion, narrowly inside Wall Street forecasts of a $9.29 billion tally, as gross bookings rose 16% to $33.6 billion.

Rides revenue rose 25% to $16.73 billion, Uber said, while delivery rose 12% to $13.88 billion.

Uber's net income for the quarter were $394 million while adjusted earnings were pegged at 18 cents per share, up from the year-earlier loss of $1.33 per share.

Uber said its operating profit of $326 million, on a non-GAAP basis, was the first in the company's history.

Looking into the current quarter, Uber said it sees adjusted earnings in the region of $975 million to $1.025 billion, firmly ahead of forecasts, with gross bookings in the region of $34 billion to $35 billion.

Source: The Street, Inc.

https://www.thestreet.com/investing/sto ... %2BWarning

[winston]

not vested

Uber Technologies, Inc. reported for second quarter 2023 gross bookings grew 16% year-over-year (“YoY”) to US$33.6 billion, or 18% on a constant currency basis.

Mobility gross bookings of US$16.7 billion (+25% YoY or +28% YoY constant currency).

Delivery gross bookings of US$15.6 billion (+12% YoY or +14% YoY constant currency).

Trips during the quarter grew 22% YoY to 2.3 billion, or approximately 25 million trips per day on average.

Revenue grew 14% YoY to US$9.2 billion, or 17% on a constant currency basis.

Income from operations was US$326 million, up US$1.0 billion YoY and US$588 million quarter-over-quarter (“QoQ”).

Net income attributable to Uber Technologies, Inc. was US$394 million, which includes a US$386 million benefit (pre-tax) primarily due to net unrealized gains related to the revaluation of Uber’s equity investments.

Adjusted EBITDA of US$916 million, up US$552 million YoY.

Source: Phillips

[winston]

not vested

Uber Technologies (UBER)

Uber recorded its first GAAP operating profit in its Q2 report.

Revenue of $9.23 billion was just under what analysts expected, but the company posted a net income of $394 million, or 18 cents per share. A year ago, the company lost $2.6 billion in the quarter.

The company expects gross bookings between $34 billion and $35 billion in the third quarter and adjusted EBITDA of $975 million to $1.025 billion.

UBER stock is up 79% this year and gets an “A” rating in the Portfolio Grader.

Source: Trades Of The Day

[winston]

not vested

Uber reported third-quarter results Tuesday that missed analysts’ expectations on the top and bottom lines but showed strength in other areas, like gross bookings, which exceeded the company’s guidance from the second quarter.

Uber’s revenue for the quarter was up 11% from the same quarter last year.

In an interview with CNBC’s “Squawk Box” on Tuesday, CEO Dara Khosrowshahi said revenue growth would have been 8% higher, but the company reclassified certain incentive spends for Uber Eats as contra revenue instead of marketing expenses this quarter.

The company reported net income of $221 million, or 10 cents per share, compared with a net loss of $1.2 billion, or 61 cents per share, in the same quarter last year. That includes a $96 million headwind from revaluations of Uber’s equity investments.

Source: Phillips