That strategic mash-up came on the heels of UBER and Waymo's ridetaxi service agreement in the Arizona market. For FY 2023, free cash flow should be near $4 billion.Įarlier this month, UBER announced a partnership with Ford on an EV rideshare adoption program. A healthy margin was driven by solid ad revenue and insurance costs that were in check. The driver of the big rally in the ensuing sessions was its Q2 guide, which appeared conservative to sell-side analysts. Gross bookings were up 19% from the same period a year ago while adjusted EBITDA was up markedly YoY. $0.08 of per-share losses were a penny better than estimates while a 28% YoY revenue rise to $8.8 billion was also better than forecasted. The San Francisco-based $81.4 billion market cap Passenger Ground Transportation company within the Industrials sector has negative trailing 12-month GAAP earnings and does not pay a dividend, according to The Wall Street Journal.īack in early May, the company reported a modest EPS beat. The company now has over 100mn monthly customers with revenues generated from Mobility, Delivery, and Freight services. Big Travel Activity Suggests A Healthy May Retail Sales ReportĪccording to Bank of America Global Research, UBER is a mobility platform that services 63 countries, 750+ ridesharing markets, and 500+ Eats markets, and nearly half of Core Platform Revenue is generated outside of the U.S. With a new CEO at the helm and potential for leadership in the autonomous vehicle revolution, I see upside potential and have a buy rating. Uber Technologies ( NYSE: UBER) is the go-to rideshare company globally that is making inroads into new markets and forging new strategic partnerships as its sales and earnings rise sharply. One of the areas helping to lift discretionary spending is a boon in travel. May consumer spending trends appear healthy according to card data. BofA sees a solid retail sales report next week.
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