Multiple analysts rerated Uber Technologies, Inc UBER after Thursday’s quarterly print amid an exciting earnings season.The ride-hailing giant reported fiscal third-quarter 2024 revenue growth of 20% to $11.188 billion, topping the analyst consensus of $10.97 billion.Revenue from Mobility grew to $6.41 billion, up 26%. Delivery was $3.47 billion, up 18%, and Freight was $1.31 billion, up 2%.Also Read: Nvidia’s Run:ai Acquisition Draws European Regulatory Scrutiny On Competition ConcernsJMP Securities analys ...

Financial Position and Investments - As of September 30, 2024, the company had cash and cash equivalents totaling $9.0 billion, up from $7.0 billion as of December 31, 2023 [217] - Marketable debt securities classified as restricted investments and short-term investments totaled $9.5 billion as of September 30, 2024 [217] - The carrying value of the company's investments, including equity method investments, was $8.2 billion as of September 30, 2024 [218] - The company's cash, cash equivalents, and marketable debt securities primarily consist of money market funds, cash deposits, U.S. government securities, U.S. government agency securities, and investment-grade corporate debt securities [217] - The company's investment policy aims to preserve capital and meet liquidity requirements without significantly increasing risk [217] Debt and Interest Rate Sensitivity - The company fully repaid all loans outstanding under the 2030 Refinanced Term Loans agreement in September 2024, totaling approximately $1.97 billion in aggregate principal amount [216] - A hypothetical 100 basis point increase in interest rates would have increased the fair value of the company's fixed rate notes by $513 million as of September 30, 2024 [216] Foreign Currency Risks and Hedging - The company is exposed to foreign currency risks related to revenue and operating expenses denominated in currencies other than the U.S. dollar [219] - The company entered into foreign currency derivative contracts in Q2 2024 to mitigate foreign currency exchange risk [219] Tax and Legal Matters - Uber UK has been assessed approximately $1.4 billion (£1.1 billion) for unpaid VAT by HMRC for the period from March 2022 to March 2024, which the company is appealing [211]

Core Insights - Uber is experiencing significant growth in its membership program, with over 25 million members, reflecting a 70% year-over-year increase [1] - The company achieved over $1 billion in GAAP operating income for the first time and is projected to deliver 20% growth in gross bookings on a constant currency basis for the full year [1] Expansion Strategy - The company is shifting its focus beyond major cities, such as New York and Sao Paulo, to secondary and tertiary cities, where growth has been higher than in core areas [2] - Uber's growth in non-core cities is particularly notable in the delivery segment, where 60-70% of the market is located, and this segment is growing faster than city centers [3] Partnerships and Innovations - Uber has partnered with Avirde to utilize delivery robots for Uber Eats, starting in Austin with plans to expand to Dallas and Jersey City [3] - The ride-hailing aspect of the partnership is expected to launch in Dallas next year, allowing customers to have their rides fulfilled by Avirde's robots or vehicles [4] Industry Trends - The rise of robotaxis is seen as a potential game-changer in urban transportation, offering a convenient and cost-effective alternative to car ownership [5] - Robotaxis may address the 'first-mile/last-mile' problem in public transportation, enhancing public transit use and promoting a more sustainable urban environment [6]

Uber Technologies (UBER) reported solid third-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings per share (EPS) of $1.20 outpaced the Zacks Consensus Estimate of 41 cents and improved more than 100% on a year-over-year basis.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total revenues of $11.2 billion beat the Zacks Consensus Estimate of $10.9 billion. The top line jumped 20% year over year on a reported basis and 22% ...

Uber Technologies pointed to a further slowdown in its mainstay app-based taxi business as it forecast fourth-quarter gross bookings below Wall Street estimates, sending its shares down 11% by Thursday afternoon.Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and also fell short of analysts’ forecasts.Shares of rival Lyft, which is set to report quarterly results next week, fell 5.3%.Bookings growth, a key measure of ridership fo ...

Uber Technologies (UBER) is one of the worst S&P 500 stocks in Thursday's session after the ride-hailing company beat top- and bottom-line expectations for its third quarter, but came up just short on another key metric.In the three months ended September 30, Uber said its revenue increased 20.4% year over year to $11.2 billion, driven by a 16.1% rise in gross bookings to $41 billion. Its earnings per share (EPS) improved to $1.20 from 10 cents in the year-ago period."We delivered yet another record quarter ...

Uber Technologies, Inc. (NYSE:UBER) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET Company Participants Dara Khosrowshahi - CEO Prashanth Mahendra-Rajah - CFO Deepa Subramanian - VP, IR Conference Call Participants Eric Sheridan - Goldman Sachs Brian Nowak - Morgan Stanley Doug Anmuth - JPMorgan Justin Post - Bank of America Merrill Lynch Mark Mahaney - Evercore Ron Josey - Citi Nikhil Devnani - Bernstein Ross Sandler - Barclays Benjamin Black - Deutsche Bank Operator Hello, and welcome to the ...

Uber's stock fell Thursday after the ride-share company reported mixed third-quarter results.Gross bookings, or the dollar value of rides and deliveries, came in slightly below expectations.Uber is "pretty optimistic" about key US market going forward, CEO says. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personali ...

Uber Technologies Inc (NYSE:UBER) stock is 9.3% lower at $72.03 after earnings. The ride-sharing company's third-quarter earnings per share of $1.20 and $11.19 billion in revenue trounced analysts' estimates, but the reported $40.97 billion in gross bookings was well below the $41.25 billion estimates, which is dragging shares this morning.In the options pits, 50,000 calls and 70,000 puts have been traded so far today, triple the average intraday volume. Most popular by far is the December 65 put, followed ...

Uber Technologies (UBER) reported $11.19 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 20.4%. EPS of $1.20 for the same period compares to $0.10 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $11 billion, representing a surprise of +1.74%. The company delivered an EPS surprise of +192.68%, with the consensus EPS estimate being $0.41.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...