Earnings per share:
66 cents vs. 17 cents expected by LSEG, formerly known as Refinitiv.
Revenue:
$9.94 billion vs. $9.76 billion expected by LSEG.
Uber reported net income of $1.4 billion, or 66 cents per share, compared with $595 million, or 29 cents per share, in the same quarter last year. Uber’s net income includes a $1 billion net tail wind thanks to “unrealized gains” from revaluations of its equity investments, according to a release.
The company’s revenue for the quarter was up 15% from the same quarter last year. Uber’s gross bookings came in at $37.6 billion, up 22% year over year.
There’s a lot of hate on this stock, but this honestly seems like another classic case of inverse Reddit. Another strong quarter of growth and strong momentum. I wouldn’t be surprised at short term consolidation or pullback after a crazy run up but long term if Uber can execute, it will continue to generate nice profits. Dara is also running the company quite well and has consistently followed through on beat-and-raises for guidance.
Big funds and analysts also seem quite bullish so as they say, follow the big money…
