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 ...

Financial Data and Key Metrics Changes - Uber reported a record quarter with gross bookings increasing by 20% year-on-year in constant currency [7] - The company achieved an all-time high GAAP operating profit exceeding $1 billion [7] - More than 7.8 million people are now engaged with Uber, generating over $18 billion in earnings during the quarter [8] Business Line Data and Key Metrics Changes - The advertising business grew nearly 80% year-on-year, indicating strong performance in this segment [8] - Uber One membership increased by 70% year-on-year, reaching over 25 million members [8] - Delivery gross bookings grew by 17%, showcasing continued growth in this area [45] Market Data and Key Metrics Changes - U.S. mobility bookings showed a growth rate of 24%, with weekday growth outpacing weekend growth [19][20] - International markets outperformed the U.S. in growth rates, contributing positively to overall performance [68] Company Strategy and Development Direction - The company is focusing on expanding into less densely populated markets, which represent a significant growth opportunity [13][14] - Uber's capital allocation priorities include investing in future growth while returning capital to shareholders, with plans for increased share repurchase [9][10] - The company is committed to organic growth and disciplined M&A strategies, emphasizing the importance of strategic value in potential acquisitions [11][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding consumer demand, noting strong retention rates and spending patterns in both Mobility and Delivery [67] - The company anticipates that insurance costs will continue to rise but at a moderated rate, which should positively impact profitability [34][21] - Management highlighted the importance of improving customer experience to drive frequency and retention [46][47] Other Important Information - Uber is actively investing in its Direct business, which is one of the fastest-growing segments, and is expanding its engineering capabilities [71] - The company is exploring partnerships in various sectors, including autonomous vehicles, to enhance its service offerings [56][59] Q&A Session Summary Question: Insights on capital allocation and less dense markets - Management acknowledged the opportunity in less dense markets and discussed strategies for building supply and stimulating demand in these areas [13][14] Question: U.S. mobility bookings trends - Management noted that U.S. mobility continues to grow, with strong weekday performance and a focus on enterprise sales [19][20] Question: Autonomous vehicle partnership with Vaymo - Management indicated that it is too early to assess the impact of the Vaymo partnership in Arizona, but expressed optimism about future expansions [22] Question: Insurance costs and advertising growth sustainability - Management confirmed that rising insurance costs are primarily a U.S. issue and discussed the robust growth of the advertising business, emphasizing its potential for future growth [33][36] Question: Delivery growth and frequency initiatives - Management highlighted the growth in delivery bookings and the importance of quality service and membership programs in driving frequency [45][47] Question: Consumer landscape and macro environment - Management reported strong consumer demand and retention rates, with no signs of trade down in delivery services [67][68]

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 ...

KEY TAKEAWAYSUber Technologies shares are dropping in premarket trading Thursday, as the ride-hailing giant posted weaker-than-expected gross bookings in the third quarter.The company said gross bookings rose 16% year-over-year to $41 billion in the third quarter, below estimates from Visible Alpha of $41.3 billion.Uber's top- and bottom-line results handily beat analysts' estimates, however. It posted revenue of $11.19 billion and net income of $2.6 billion for the third quarter. Uber Technologies (UBER) s ...

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Uber Technologies (UBER) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 192.68%. A quarter ago, it was expected that this ride-hailing company would post earnings of $0.31 per share when it actually produced earnings of $0.47, delivering a surprise of 51.61%.Over the last four quarte ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...