NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Uber Q2 results: ‘on its way to build a sustainably profitable business’

by August 2, 2022
written by August 2, 2022

Uber Technologies Inc (NYSE: UBER) is up 15% on Tuesday even after the mobility company swung to a $2.60 billion loss for its fiscal second quarter.

Why are Uber shares up this morning?

The price action is primarily related to the free cash flow that came in much better than expected and revenue that more than doubled in Q2. Reacting to the earnings report on Yahoo Finance, Tom White (Equity Analyst at DA Davidson) said:

Uber is well on its way to building a sustainably profitable and self-funding business. Most important for institutional investors was that they pulled forward their positive FCF by a couple quarters and hinted that’ll continue no matter what the macro backdrop looks like. That’s what you’re seeing with the stock reaction.

He also sees great potential in Uber One (membership programme) and is convinced that the multi-product platform gives it an edge over the competitors, including Lyft. Uber shares are still down about 35% for the year.

Key takeaways from Uber Q2 results

Lost $1.33 per share versus an EPS of 58 cents last yearRevenue shot up 105% on a year-over-year basis to $8.10 billionConsensus was 27 cents of per-share loss on $7.36 billion in revenueMobility revenue jumped 120% on a 55% increase in bookingsGross margin stood at 32.8%; much better than the Street estimate

Other notable figures and future outlook

Other prominent figures in Uber Q2 results include a 36.9% annualised growth in delivery revenue as bookings went up 7.5%. Its stake in Zomato, Grab, and Aurora, resulted in a $1.70 billion hit this quarter, as per the earnings press release.

For the current financial quarter, Uber forecasts $29 billion to $30 billion in gross bookings – roughly in line with expectations.

Wall Street currently has a consensus “buy” rating on Uber shares with upside to $45 on average.

The post Uber Q2 results: ‘on its way to build a sustainably profitable business’ appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Robinhood Crypto fined $30 million by NYDFS
next post
Sierra Wireless Confirms Discussions Regarding a Potential Transaction with Semtech

You may also like

Employment cost index undershoots expectations; Labour costs likely...

January 31, 2023

Key wage inflation measure eases in Q4: don’t...

January 31, 2023

Weekly markets TL;DR: Massive week ahead for stocks,...

January 31, 2023

Scottish Mortgage Trust share price headwinds put recovery...

January 31, 2023

IMF projects global growth at 2.9%; Disinflation to...

January 31, 2023

Chinese PMIs spark to life after covid restrictions...

January 31, 2023

Should you buy Apple shares ahead of its...

January 30, 2023

Mercedes-Benz just beat Elon Musk’s Tesla in its...

January 30, 2023

Amid recessionary fears, Texas manufacturing disappoints for the...

January 30, 2023

Goldman Sachs reveals one of the best-positioned retail...

January 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Employment cost index undershoots expectations; Labour costs likely peaked

    January 31, 2023
  • Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks

    January 31, 2023
  • China: House Divided

    January 31, 2023
  • Markets Aid Rhino Survival

    January 31, 2023
  • Weekly markets TL;DR: Massive week ahead for stocks, crypto and forex

    January 31, 2023

Categories

  • Economy (600)
  • Editor's Pick (232)
  • Investing (1,586)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick