Investment Rating - The report maintains a "Buy" rating for Uber [6][10]. Core Insights - Uber continues to show strong revenue and profit growth, with a diversified business model and a partnership with Nvidia to accelerate the deployment of autonomous driving networks [3][10]. - The company has adjusted its revenue forecasts for FY2025E-FY2027E to $51.9 billion, $60.1 billion, and $68.5 billion respectively, with corresponding adjusted EBITDA of $8.7 billion, $11.3 billion, and $14 billion [10][11]. Financial Summary - **Revenue (in million USD)**: - 2023: 37,281 - 2024: 43,978 - 2025E: 51,948 - 2026E: 60,069 - 2027E: 68,481 - Growth rates: 2023 (+17.0%), 2024 (+18.0%), 2025E (+18.1%), 2026E (+15.6%), 2027E (+14.0%) [5][11]. - **Operating Profit (in million USD)**: - 2023: 1,110 - 2024: 2,799 - 2025E: 5,399 - 2026E: 7,897 - 2027E: 10,371 - Growth rates: 2023 (+160.6%), 2024 (+152.2%), 2025E (+92.9%), 2026E (+46.3%), 2027E (+31.3%) [5][11]. - **GAAP Net Profit (in million USD)**: - 2023: 1,887 - 2024: 9,856 - 2025E: 11,180 - 2026E: 7,085 - 2027E: 8,938 [5][11]. - **Adjusted EBITDA (in million USD)**: - 2023: 4,052 - 2024: 6,484 - 2025E: 8,684 - 2026E: 11,271 - 2027E: 14,033 [5][11]. Business Diversification - Uber's business model is increasingly diversified, with significant growth in both ride-hailing and food delivery services. The company is leveraging a "barbell" structure in its ride-hailing business, balancing low-cost services with high-margin offerings [10]. - The grocery and retail segments of the food delivery business are growing rapidly, with annualized gross bookings nearing $12 billion, significantly outpacing traditional food delivery growth [10]. Strategic Partnerships - Uber has partnered with Nvidia to enhance its L4 autonomous driving capabilities, utilizing Nvidia's full-stack platform to improve training quality and system reliability [10].

Core Insights - Uber's third-quarter earnings exceeded expectations, with earnings per share at $3.11 compared to the forecast of $0.69, and revenue increased by 20% to $13.47 billion, surpassing estimates of $13.28 billion [1][2] Financial Performance - Earnings per share rose 159% year-over-year, boosted by a $4.9 billion tax valuation release and a $1.5 billion pre-tax benefit from equity investment revaluation [2] - Adjusted EBITDA grew 33% to $2.26 billion, slightly below the expected $2.27 billion [2] Growth Metrics - Gross bookings increased by 21% to $49.74 billion, exceeding estimates of $49.02 billion, with total trips growing 22% to 3.5 billion [3][4] - For the current quarter, Uber anticipates total bookings of $53 billion, above analyst expectations of $52.2 billion, and adjusted EBITDA guidance is set at $2.46 billion, just below the $2.47 billion forecast [4] Stock Market Reaction - Despite strong earnings, Uber's stock fell by 4.76 to $95.12 in premarket trading, following a 3.3% rise the previous day, and is up 65% year-to-date [6][10] - Uber's stock has formed a flat base pattern with a buy point at $101.99, and holds an IBD Composite Rating of 92 out of a possible 99 [6][7]

Core Viewpoint - Uber's latest financial report indicates strong growth signals with revenue exceeding expectations and a significant $20 billion stock buyback plan. The traditional ride-hailing business is experiencing a slowdown, while the food delivery segment is accelerating, driven by the success of the Uber One membership program, which is becoming a new pillar of performance [1][3]. Financial Performance - In Q2 2025, Uber reported revenue of $12.65 billion, an 18% year-over-year increase, surpassing analyst expectations of $12.46 billion. Net profit rose to $1.36 billion, or $0.63 per share, exceeding last year's $1.02 billion. Total order volume grew 17% to $46.8 billion, with monthly active platform users (MAPCs) increasing 15% to a record 180 million [3][4]. Stock Buyback - Uber announced a new $20 billion stock buyback authorization, bringing the total buyback capacity to approximately $23 billion, reflecting the company's commitment to returning value to shareholders [3]. Delivery Business Growth - The food delivery segment saw total order volume reach $21.73 billion in Q2, a 20% year-over-year increase, significantly outpacing the traditional ride-hailing business. The growth in the delivery segment is attributed to the successful Uber One membership program, which now has 36 million members, a 60% increase year-over-year [6][8]. Ride-Hailing Business Slowdown - In contrast to the delivery segment, Uber's core ride-hailing business experienced a slowdown, with total order volume of $23.76 billion, an 18% year-over-year increase, slightly below market expectations. However, the total number of trips increased by 19%, indicating healthy user engagement [8][12]. Autonomous Driving Strategy - Uber's strategy in the autonomous vehicle (AV) sector focuses on a "light asset" and "platform-led" approach, avoiding heavy investments in full-stack self-development. The company has established partnerships with 20 AV-related firms, including Waymo and Baidu's Apollo [9][10]. Profitability Outlook - Uber provided a stable performance outlook, expecting Q3 total order volume between $48.25 billion and $49.75 billion, with year-over-year growth of 17% to 21%. However, analysts are concerned about the profit margin, with adjusted EBITDA projected between $2.19 billion and $2.29 billion, indicating a decrease in profit margin compared to Q2 [12][14]. Market Sentiment - Wall Street analysts maintain a positive outlook on Uber's future, with Bank of America reiterating a "buy" rating and a target price of $115, citing strong revenue growth and a significant discount compared to the FANG sector. JPMorgan also maintains an "overweight" rating, highlighting Uber's advantageous position in future AV deployments [15].

Core Insights - Uber Technologies reported revenue of $12.65 billion for the quarter ended June 2025, reflecting an 18.2% increase year-over-year and a surprise of +1.57% over the Zacks Consensus Estimate of $12.46 billion [1] - The earnings per share (EPS) was $0.63, up from $0.47 in the same quarter last year, with an EPS surprise of +1.61% compared to the consensus estimate of $0.62 [1] Financial Performance Metrics - Gross Bookings totaled $46.76 billion, exceeding the average estimate of $46.28 billion from 12 analysts [4] - Gross Bookings for Delivery reached $21.73 billion, surpassing the estimated $21.24 billion from nine analysts [4] - Monthly Active Platform Consumers (MAPCs) were reported at 180, compared to the estimated 176 from nine analysts [4] - Gross Bookings for Mobility were $23.76 billion, slightly below the average estimate of $23.89 billion from nine analysts [4] - Total trips amounted to 3,268, exceeding the average estimate of 3,250 from eight analysts [4] - Gross Bookings for Freight were $1.26 billion, slightly below the average estimate of $1.27 billion from eight analysts [4] Revenue Breakdown - Revenue from Mobility was $7.29 billion, above the estimated $7.23 billion from nine analysts, representing an 18.8% increase year-over-year [4] - Revenue from Freight was $1.26 billion, slightly below the estimated $1.28 billion from nine analysts, showing a -0.9% change year-over-year [4] - Revenue from Delivery reached $4.1 billion, exceeding the estimated $3.94 billion from nine analysts, with a year-over-year increase of 24.6% [4] Adjusted EBITDA - Adjusted EBITDA for Mobility was $1.91 billion, slightly above the estimated $1.9 billion from six analysts [4] - Adjusted EBITDA for Corporate G&A and Platform R&D was reported at -$653 million, compared to the average estimate of -$602.13 million from six analysts [4] - Adjusted EBITDA for Freight was -$6 million, better than the estimated -$10.24 million from six analysts [4] Stock Performance - Uber's shares have returned -8.3% over the past month, while the Zacks S&P 500 composite has changed by +0.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]