SAN FRANCISCO, Nov. 12, 2024 /PRNewswire/ -- Uber Eats (NYSE: UBER) is excited to announce a new partnership with Stew Leonard's, the family-owned and operated farm fresh food store renowned for its exceptional quality and unique shopping experience. Now, from everyday items to exclusive cult-favorites, customers can enjoy the convenience of having their favorite Stew Leonard's products delivered right to their doorstep. All of Stew Leonard's iconic New York, New Jersey, and Connecticut locations are avail ...

Uber (NYSE: UBER ) shares sold off after weaker-than-expected Q3 booking metrics, followed by a tepid forecast, disappointed the broader consensus. However, we would use this opportunity to buy on weakness, as this was not the first time the market overreacted toAstrada Advisors delivers actionable recommendations that enhance portfolio performance and uncover alpha opportunities, supported by a strong track record in investment research at leading global investment banks. With expertise spanning technology ...

Massachusetts voters on Tuesday approved a ballot measure that would allow ride-share drivers to unionize, becoming the first state to allow drivers for app-based companies like Uber and Lyft to do so.With 94% of precincts reporting, 53.9% of voters endorsed a novel framework that would allow ride-share drivers who are considered by the companies to be independent contractors to organize and bargain collectively over pay and benefits, according to the Associated Press, which called the vote mid-Wednesday.Su ...

Uber (NYSE: UBER ) reported earnings on Thursday, and the stock plunged ~9% as underwhelming guidance and a miss on gross bookings rubbed investors the wrong way. I think the stock is attractive at current levels, and I believe midI’m a retired Wall Street PM specializing in TMT; my educational background is a bachelor's in Finance and Economics, and an MBA from Columbia, after which I directly began my career on Wall Street. Since kickstarting my career, I’ve spent over two decades in the market navigating ...

Ride-hailing giant Uber Technologies is suggesting a pay cut for its drivers in New York City, citing lower gas prices, as it tries to lower the price of rides in one of its biggest markets.According to a Monday (Nov. 4) report from Bloomberg, Uber wants the city’s Taxi and Limousine Commission — which is responsible for establishing minimum driver pay — to reduce the per-mile rate in its driver pay formula $1.277, down by 6.1% from the current $1.360. Bloomberg cited a letter the company had sent to the co ...

Uber on Monday sent a petition requesting cuts to New York City drivers’ minimum pay, citing recent drops in the price of used cards and gasoline.The rideshare giant asked the city’s Taxi and Limousine Commission to reduce the per-mile rate in its driver pay formula by 6.1% to $1.277 from the current $1.360, according to a letter obtained by The Post and first reported by Bloomberg News.Uber’s pleas are a last-ditch effort to minimize costs as the company sees customers pulling back on frequent rides. CEO D ...

On Oct. 31, Uber Technologies (UBER) reported better-than-expected third-quarter 2024 earnings per share and revenues, before the opening bell. This was the second successive quarter in which the company had reported better-than-expected results after posting a loss in the first quarter of 2024. Adding to the optimism, third-quarter 2024 earnings and revenues increased significantly year over year. During the September quarter, the company delivered over $1 billion in operating income (on a GAAP basis) for ...

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]