Uber Eyes Expansion in Asia Via Macau Relaunch: More Upside Ahead?

Core Insights - Uber Technologies has launched its ride-hailing service in Macau, marking its first entry into a new Asian market in several years [1][9] - The service allows users to book and pay for taxis in multiple languages and includes a limousine service connecting Macau with Hong Kong, requiring 24-hour advance booking [2] - Uber previously exited mainland China in 2016 and Southeast Asia in 2018, but retains an ownership stake in Grab, which took over its operations in those regions [3][4] Group 1: Market Entry and Service Details - The relaunch in Macau is seen as a strategic move due to the city's appeal to millions of tourists, particularly from mainland China and Hong Kong [5] - Uber is hiring drivers and offering bonuses for completed rides during the current month to support the service's reintroduction [2] Group 2: Financial Performance and Valuation - Uber's shares have increased by over 15% in the past year, while the Zacks Internet-Services industry has seen a 60% growth [6] - The company trades at a 12-month forward price-to-sales ratio of 2.75X, which is considered inexpensive compared to its industry peers [9] - The Zacks Consensus Estimate for Uber's earnings has seen slight downward revisions for the upcoming quarters, with a marginal upward revision for 2025 [12]