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- Uber beats expectations – the stock is up
- Founded: March 2009
- Headquarters: San Francisco, California, United States
- Number of employees: 32,800 (2022)
- Industry: Transportation
- Key people: Ronald Sugar (Chairman), Dara Khosrowshahi (CEO)
- 1 month: +16.34%
- 3 months: +18.07%
- Year-to-date: +47.67%
- 1 year: +23.92%
- Wedbush: $44
- Needham: $54
- RBC Capital: $46
- Deutsche Bank: $44
- JMP Securities: $55
- Wolfe Research: $45
- UBS: $48
- JP Morgan: $52
- Wells Fargo: $53
News & AnalysisUber Technologies Inc. (NYSE: UBER) announced first quarter results before the market open in the US on Tuesday.
World’s largest ridesharing company beat analyst expectations for the quarter, sending the stock price higher.
Company overview
The results
Uber reported revenue of $8.823 billion (up by 29% vs Q1 2022) vs. $8.703 billion expected.
The company reported loss per share of -$0.08 per share vs. estimate of -$0.087 loss per share.
CEO commentary
“We significantly accelerated Q1 trip growth to 24% from 19% last quarter, with Mobility trip growth of 32%, as a result of improved earner and consumer engagement,” Dara Khosrowshahi, CEO of Uber said in a letter to shareholders.
“Looking ahead, we are focused on extending our product, scale and platform advantages to sustain market-leading top and bottom-line growth beyond 2023,” Khosrowshahi added.
The stock was up +11.55% on Tuesday at $36.53 a share.
Stock performance
Uber price targets
Uber is the 196th largest company in the world with a market cap of $73.54 billion, according to CompaniesMarketCap.
You can trade Uber Technologies Inc. (NYSE: UBER) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: Uber Technologies Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap, Wikipedia
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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