Uber Stock Gains With Q3 Earnings On Deck. Here's What To Watch.

Core Viewpoint - Uber Technologies is set to report its Q3 earnings, with a focus on consumer spending and the company's autonomous vehicle initiatives, following a significant stock rally of nearly 65% year-to-date [1][2]. Financial Performance - Uber's revenue for the September-ended quarter is expected to grow 19% year-over-year to $13.28 billion [3]. - Earnings are projected to decline 42% to 69 cents per share, influenced by a tough comparison from Q3 2024, which included a $1.7 billion pretax benefit from unrealized equity investment gains [4]. - Adjusted EBITDA is anticipated to rise 34% year-over-year to $2.27 billion [4]. - Analysts forecast gross bookings to increase 19.5% year-over-year to $48.95 billion, with expectations of 18% growth to $52.1 billion for the December-ending quarter [5]. Robotaxi Strategy - Analysts will be looking for updates on Uber's robotaxi strategy, as the company has partnered with over a dozen robotaxi providers [6][7]. - Uber is facing competition from Waymo, which has over 1,500 robotaxis operating in the U.S. and plans to add 2,000 more next year [8]. - Recent developments include Uber's announcement of a robotaxi service using Lucid vehicles in the Bay Area, with plans to deploy over 20,000 Lucid electric vehicles equipped with Nuro's driving system over the next six years [9][10]. Stock Performance - Uber stock is currently trading at 89.92, having formed a flat base pattern with a buy point at 101.99 [11]. - UBS analyst Stephen Ju raised his price target for Uber stock from 117 to 124, maintaining a buy recommendation, citing challenges for robotaxi providers in competing with ride-hailing platforms [8][9].