Uber Tech (UBER)

[winston]

vested

Uber reports US$892m Q4 profit, topping expectations

Revenues jumped 83 per cent to US$5.8 billion.

Mobility is already starting to bounce back, with gross bookings up 25 per cent month-on-month.

Profits were boosted by US$1.4 billion in increased value tied to Uber's equity investments.

Source: AFP

https://www.businesstimes.com.sg/garage ... pectations

[winston]

vested

Uber posts quarterly profit as ride demand recovers, delivery remains strong

by Tina Bellon and Nivedita Balu

Rides recovery in the fourth quarter was driven by strong demand for airport trips, which tripled compared to last year. Airport rides are among the most profitable routes for Uber.

Source: Reuters

https://www.theedgemarkets.com/article/ ... ins-strong

[winston]

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Uber Stock Slides After NYSE Halt: Sees $5 Billion In Profits By 2024

Uber told its Investor Day conference that gross bookings should rise to around $170 billion by 2024, lifting operating profits to as high as $5 billion.

by MARTIN BACCARDAX

Uber said it will report $5 billion in operating profits by 2024 compared to a loss of $800 million in 2021.

That tally would represent a 140% gain from the $90 billion in gross bookings recorded last year.

Gross bookings for 2024 are expected in the region of $165 billion and $175 billion, with the company forecasting adjusted earnings of $5 billion by 2024.

Source: The Street

https://www.thestreet.com/markets/uber- ... BBy%2B2024

[winston]

vested

Uber Technologies: Expensive Despite Profitability Risks

by Nikolaos Sismanis

With ~$4.3 billion in the bank, the company will likely need to raise additional capital to pursue any initiative that is going to cost more than a couple of billion dollars.

Uber’s long-term debt position already stands at an unhealthy ~$9.3 billion.

Strong Buy consensus rating, based on 23 Buys and one Sell assigned in the past three months. At $62.58, the average Uber Technologies stock forecast implies 80.5% upside potential.

Source: Tip Ranks

https://www.tipranks.com/news/article/u ... =story_tue

[winston]

vested

Uber raises first-quarter profit forecast on strong ridership, delivery growth

Gross bookings for airports, which are among the most profitable routes for Uber, were up over 50% month-on-month in February and headed to be one of the strongest ever in the upcoming travel season.

February mobility gross bookings had recovered to 95% compared with February 2019.

On the delivery side, gross bookings reached an all-time high in February, the company said.

Source: Reuters

https://www.investing.com/news/stock-ma ... th-2779198

[winston]

not vested

Uber drivers are protesting on social media over record U.S. gasoline prices eating into their earnings just as the ride-hailing firm raised its profitability outlook, with some asking whether it was still worth getting behind the wheel.

U.S. retail gasoline prices hit an all-time of $4.173 on Tuesday after Russia's invasion of Ukraine sent the price of crude oil rocketing.

The price per gallon is now around 60% higher than it was two years ago before the COVID-19 crisis.

For Uber (UBER.N) and Lyft (LYFT.O), driver discontent comes as the ride-hailing pioneers seek to turn the page on the coronavirus pandemic as customers return to in greater numbers.

"Our platform only works if it works for drivers, so we'll continue to monitor gas prices and listen to drivers over the coming weeks," Uber said in a statement.

Source: Phillips

[winston]

vested

Uber Adds Fuel Surcharge in US, Canada Amid Spike in Gas Prices

By Lorenz Duchamps

Riders taking an Uber in the United States will have to pay a surcharge fee of $0.45 to $0.55 per trip, while a $0.35 or $0.45 consumer fee will be added to each Uber Eats order, depending on their location.

The money charged will go directly to the workers, who are responsible for paying their own gas.

The new measure will last for at least 60 days, after which Uber will make adjustments based on feedback from workers and customers.

“Our latest partnership with Hertz will make up to 50,000 fully electric Teslas available for eligible drivers to rent by 2023,” Uber said.

Source: Epoch Times

https://www.theepochtimes.com/uber-adds ... gGEkogQ%3D

[winston]

vested

Uber Stock Leaps After Deal to List All New York City Taxis On Ride-Sharing App

Uber, Curb and Creative Mobile Technologies have teamed up to list all of New York City's iconic yellow taxis on the Uber ride-sharing app.

by MARTIN BACCARDAX

Last month, Uber said it expects to report $5 billion in operating profits by 2024 -- compared to a loss of $800 million in 2021 -- and sees gross bookings rising to between $165 billion and $175 billion in 2024.

Revenues surged 83% from last year's pandemic trough to $5.8 billion, Uber said, while delivery revenues, which includes Uber Eats, rose 78% to $2.42 billion.

Source: The Street

https://www.thestreet.com/markets/uber- ... ring%2BApp

[winston]

vested

Uber (UBER) is close to an agreement with a San Francisco taxi company to include taxis in its ride-hailing platform in that city, The New York Times reports.

Source: CNBC

[winston]

vested

Uber aims to outdo Amazon in local deliveries, looks beyond food after pandemic craters demand for rides

Uber CEO Dara Khosrowshahi compared the company’s offerings to those of Shopify as a way to help local online commerce

The ride-hailing giant’s delivery business was profitable in the fourth quarter, as it has become more essential during the pandemic

Delivery business could eventually grow to be bigger than rides, even when the mobility unit gets back to pre-pandemic levels.

Uber added 120,000 non-restaurant merchants on to its platform in the last year.

Source: Bloomberg

https://www.scmp.com/tech/big-tech/arti ... food-after