In late July, California's top state court upheld Proposition 22, a voter-approved measure allowing app-based services such as Uber, Lyft, Grubhub and DoorDash to classify drivers in the most populous U.S. state as independent contractors rather than employees. The California Supreme Court ruling was a major victory for the ride-hailing industry, which for cost and other reasons, has a vested interest in classifying gig workers as independents. While only applicable in California, labor law experts expect m ...

On Tuesday, Uber Technologies UBER reported its second quarter results that surpassed Wall Street estimates. In addition, Uber recorded a sixfold increase in autonomous rides through its collaborations with 10 partners that span across different segments. Back in July, Uber expanded its partnership list that already included Instacart CART with an EV star set to beat the mighty Tesla Inc TSLA in BEV sales this year, BYD Company Limited BYDDY. BYD already dethroned Tesla when it comes to total production las ...

Uber Technologies (UBER) reported second-quarter 2024 earnings of 47 cents per share, which outpaced the Zacks Consensus Estimate of 31 cents and improved more than 100% on a year-over-year basis. Total revenues of $10.700 billion beat the Zacks Consensus Estimate of $10.558 billion. The top line jumped 16% year over year on a reported basis and 17% on a constant currency basis. In the second quarter, the majority (57.3%) of the company's revenues came from Mobility. Revenues from this segment jumped 25% ye ...

Uber marked a milestone in the second quarter, with 7.4 million monthly drivers and couriers globally, per the company's earnings report released Tuesday (Aug. 6). The company's focus on expanding its service offerings and strategic partnerships has been key to its success. In recent developments, Uber has introduced several new services, including Uber Caregiver, scheduled UberX Share rides, and Uber Shuttle, as announced at the firm's annual GO-GET event in May. These additions have contributed to an incr ...

Uber Technologies Today UBER Uber Technologies $63.50 +5.02 (+8.58%) 52-Week Range $40.09 ▼ $82.14 P/E Ratio 102.42 Price Target $86.76 Add to Watchlist Uber Technologies Inc. NYSE: UBER has delivered strong second-quarter 2024 results, surpassing Uber's analyst community's expectations for revenue and earnings. Uber's financial performance was driven by robust growth across its core business segments, and Uber's earnings beat has fueled investor confidence and propelled the company's stock price upward. Bu ...

Uber Technologies (UBER) reported $10.7 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 15.9%. EPS of $0.47 for the same period compares to $0.18 a year ago. The reported revenue represents a surprise of +1.34% over the Zacks Consensus Estimate of $10.56 billion. With the consensus EPS estimate being $0.31, the EPS surprise was +51.61%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

Key Takeaways Uber shares jumped Tuesday after the company's second-quarter earnings came in well above analysts' expectations. Gross bookings rose 19% year-over-year, while profits more than doubled to $1.02 billion. JPMorgan analysts said Uber's stock buyback plan that started during Q2 should "ramp" over the next several quarters. Uber (UBER) stock jumped Tuesday as the ridesharing giant's second-quarter earnings beat analysts' estimates as gross bookings grew 19% year-over-year. The company reported a 1 ...

Uber Technologies (UBER) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 51.61%. A quarter ago, it was expected that this ridehailing company would post earnings of $0.21 per share when it actually produced a loss of $0.32, delivering a surprise of -252.38%. Over the last four quarte ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output a ...

Uber reported strong second-quarter results, with gross bookings and net profit both up by a decent margin. But the company instead chose to highlight the success of its autonomous vehicle effort — likely to assuage investors concerned about incoming competition from Tesla, which aims to reveal its first robotaxi in October. Uber said in its second-quarter results statement that the number of trips performed by autonomous vehicles rose 6x from a year earlier – up from what the company didn't say. And, the f ...