Uber stock

Passengers took a total of 1.87 billion trips on Uber during the spring and early summer, a 24% increase compared with the same time last year.

Uber lost $2.6 billion, or $1.33 per share, for the three months ended June 30. Revenue at the San Francisco company more than doubled to $8.07 billion, bolstered by a change in the business model for its UK mobility business and the acquisition of Transplace by Uber Freight. That’s about 21 million trips per day, on average.

Investors cheered Uber's results despite the financial losses, sending Uber stock up 13.6 percent in premarket trading. Investors thought the results were going ...

“[Wall Street] was expecting a debacle from Uber with inflation eating into profits and demand softening consumer appetite for ride sharing,” Ives said in an email. Chief executive Dara Khosrowshahi highlighted what he called the company’s balanced growth and $382 million in free cash flow, “all on a platform that’s larger than ever, with the number of consumers and earners using Uber now both at all-time highs.” Uber reported a $2.6 billion loss but outperformed Wall Street’s expectations in the second quarter, sending its stock price up more than 10 percent in early trading Tuesday.

Uber's effort to meld its pioneering ride-hailing service with food and freight delivery showed progress during the past quarter even though the company ...

The volume also surpassed the 1.68 billion passenger trips that Uber provided during the second quarter of 2019 before the pandemic upended everything. Uber's higher fares and other incentives are making driving for the service a more attractive option, too. The downturn largely reflects ongoing skepticism about whether Uber will be able to keep charging high enough prices for rides and food delivery to consistently make money over the long term. Passengers took a total of 1.87 billion trips on Uber during the spring and early summer, a 24% increase compared with the same time last year. The good news arrived Tuesday in the form of a key metric known as free cash flow. Khosrowshahi took over after co-founder Travis Kalanick was pushed out amid a series of scandals, from sexual harassment claims and cover-ups, to allegations of stealing self-driving car technology.

"Last quarter I challenged our team to meet our profitability commitments even faster than planned—and they delivered," Uber's CEO said.

all on a platform that's larger than ever, with the number of consumers and earners using Uber now both at all-time highs." The company said 122 million people used its platform on a monthly basis, which was ahead of analyst estimates of 120.5 million. "Last quarter I challenged our team to meet our profitability commitments even faster than planned—and they delivered," Uber CEO Dara Khosrowshahi said. "Importantly, they delivered balanced growth... - "Last quarter I challenged our team to meet our profitability commitments even faster than planned—and they delivered," Uber CEO Dara Khosrowshahi said. Strong demand for rides helped inch the company closer to profitability, and allowed the company to report its first quarter ever of positive free cash flow.

Uber's effort meld its pioneering ride-hailing service with food and freight delivery showed signs of progress during the past quarter, even though the ...

Uber's higher fares and other incentives are making driving for the service a more attractive option, too. The volume also surpassed the 1.68 billion passenger trips that Uber provided during the second quarter of 2019 before the pandemic upended everything. The good news arrived Tuesday in the form of a key metric known as free cash flow. The downturn largely reflects ongoing skepticism about whether Uber will be able to keep charging high enough prices for rides and food delivery to consistently make money over the long term. Khosrowshahi took over after co-founder Travis Kalanick was pushed out amid a series of scandals, from sexual harassment claims and cover-ups, to allegations of stealing self-driving car technology. Passengers took a total of 1.87 billion trips on Uber during the spring and early summer, a 24% increase compared with the same time last year.

During the quarter, total trips taken on the Uber platform reached 1.87 billion.

A 24% year-over-year increase of 1.87 billion total trips on the Uber platform doesn’t hurt the rosy outlook for Uber either. Announcing Uber’s Q2 2022 earnings, Uber CEO Dara Khosrowshahi said, “Last quarter I challenged our team to meet our profitability commitments even faster than planned—and they delivered. Here’s what you need to know about Uber’s Q2 2022 financials:

Shares of Uber Technologies (UBER 18.90%) popped on Tuesday after the ridesharing and food delivery giant reported strong second-quarter growth metrics.

However, Uber's adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA) improved to $364 million from a loss of $509 million in the year-ago period. Better still, drivers and couriers earned a combined $10.8 billion during the second quarter, which represented year-over-year growth of 37%. Uber's gross bookings -- essentially, the total dollar value of transactions facilitated by its platform -- rose 33% year over year to $29.1 billion. Although higher gas and vehicle prices can cut into drivers' profits, rising grocery and other living costs are leading more people to work to earn money by driving for Uber. Additionally, demand for food delivery services has remained strong during the pandemic. Uber is benefiting from a recovery in demand for travel-related services.

Shares of Uber Technologies Inc. undefined could be set to extend their gains Wednesday after Raymond James analyst Aaron Kessler upgraded the ride-hailing.

"The one area that has lagged is the West Coast where recovery is still trailing," Kessler wrote, but "Uber expects trends to continue to improve in 2H." He also cheered the company's leverage on earnings before interest, taxes, depreciation, and amortization (Ebitda), writing that this stems "from both the volume recovery as well as increasing operational efficiencies." Shares of Uber Technologies Inc. UBER,+3.68%could be set to extend their gains Wednesday after Raymond James analyst Aaron Kessler upgraded the ride-hailing stock to outperform from market perform in the wake of the company's latest earnings report. Uber's stock was up 1.6% in premarket trading Wednesday after rising nearly 19% in Tuesday's session following the report.

Uber (NYSE:UBER) is one of this week's earnings winners. It announced it's second quarter 2022 earnings earlier today and Wall Street is pleased.

“We foresee the company’s Mobility business benefiting from its Uber Pass subscription,” he noted. Just before the earnings report, analyst Bernie McTernan of Needham issued a bullish price target of $50 for UBER stock and reiterated a “buy” rating. The performance that we’ve seen from UBER stock today signifies one thing: Markets are much more concerned with company’s positive earnings than its losses. However, Uber also reported EPS of $1.25 per share, a significant bump from the anticipated 25 cents. Aside from the noted loss, Uber reported mostly positive earnings for Q2. It exceed Wall Street predictions for both gross booking and mobility gross booking. Uber (NYSE: UBER) is one of this week’s earnings winners.

Uber (NYSE:UBER) delivered stellar Q2 financials, with gross bookings and adjusted EBITDA at an all-time high. Furthermore, it turned cash flow positive, ...

Uber also has positive signals from hedge fund managers and insiders who have accumulated its stock. Further, it projects adjusted EBITDA in the range of $440 million to $470 million, reflecting a sharp improvement on a year-over-year basis. Uber’s strong performance and guidance are encouraging. Further, its revenues of $8.07 billion surpassed Street’s estimate of $7.36 billion and more than doubled compared to the prior-year period. Uber’s Q2 financial and operating performance indicates that on-demand transportation is recovering well despite challenges from inflation. Its Q2 performance shows that customers are returning to its platform, implying that better days are ahead for this mobility service provider.