Uber

Uber Technologies Sees 1Q 2024 Adjusted Ebitda $1.26B-$1.34B.

Uber Announces Results for Fourth Quarter and Full Year 2023 Fourth quarter trips and monthly active platform consumers grew 24% and 15% year-over-year, respectively Fourth quarter Gross Bookings grew 22% year-over-year and 21% year-over-year on a constant currency basis Fourth quarter net income of $1.4 billion; Income from operations of $652 million; Record Adjusted EBITDA margin Fourth quarter operating cash flow of $823 million; Free cash flow of $768 million SAN FRANCISCO–(BUSINESS WIRE)–February 07, 2024– Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter and full year ended December 31, 2023. “2023 was an inflection point for Uber, proving that we can continue to generate strong, profitable growth at scale,” said Dara Khosrowshahi, CEO. “Our audiences are larger and more engaged than ever, with our platform powering an average of nearly 26 million daily trips last year.” “Uber’s platform advantages and disciplined investment in new growth opportunities

Uber Technologies: 4Q Freight Gross Bookings Were Stable Sequentially and Remained Pressured by Near-Term Category-Wide Headwinds, as Capacity in the Trucking Sector Continues to Normalize.

Uber Technologies 4Q Monthly Active Platform Consumers 150M.

Uber Technologies 4Q Delivery Gross Bookings Up 19%.

Uber Technologies (NYSE:UBER) reported quarterly sales of $9.90 billion which beat the analyst consensus estimate of $9.76 billion by 1.45 percent. This is a 15.02 percent increase over sales of $8.61 billion the same period last year.

The following is a summary of the Uber Technologies, Inc. (UBER) Q4 2023 Earnings Call Transcript: Financial Performance: Uber had a solid Q4 with adjusted EBITDA of $1.3 billion, above expectations and a GAAP operating income of $652 million. The company noted 2023 as an inflection point, indicating Uber’s capacity to generate strong, profitable growth at large scale. Moving forward into 2024, Uber looks to maintain this growth momentum, with plans for solid execution. Uber Eats business growth quickened from 16% to 17%, while also considerably increasing its margins. Business Progress: Uber registered a 24% YoY increase in trip growth, marking its fourth consecutive quarter of outpacing gross bookings growth. New products tailored for enterprises, low-cost transportation options, and new two-wheeler and three-wheeler options have all seen strong adoption. Increase of 30% in the number of drivers on the platform and a 10% rise in driver engagement. Grocery delivery has

Uber Technologies’ (UBER) Q4 results indicate that the ride-hailing firm is operating on all cylinders with strong growth and increasing profitability, RBC Capital Markets said in a note emailed Thursday. Uber surpassed expectations after it posted Q4 earnings of $0.66 per diluted share, up from $0.29 a year earlier and above the Capital IQ consensus of $0.17. RBC said Uber looks set up for new long-term targets and an inaugural capital return outlook during its investor day next week. The firm also sees “significant headroom” in advertising which reached a new high of $900 million in run rate with potential for “outsized” margin expansion moving forward. RBC Capital maintained its outperform rating on the company’s stock while raising its price target to $85 from $65. Uber shares were up 1.6% in recent Thursday trading.

Uber Technologies’ (UBER) price target has been raised to $94 from $87 due to confidence in the ride-hailing firm’s sustained growth of gross bookings, especially in mobility and delivery, UBS said in a note Thursday. “We increase our [gross bookings] estimate by 2% for 2024 & 2025, while also raising our Adj. EBITDA estimate by 7% and 8% for 2024 and 2025 respectively,” UBS said. Key factors include strong delivery growth, a more favorable than expected expansion in delivery margins for 2024, and consistent growth in mobility margins in 2024, the note said. “We expect Uber to update on capital return during the Feb. 14 Investor Update event, which could in our view clear the path for shares to rerate higher,” UBS said. UBS maintained a buy rating on the ride-hailing firm.

Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 14.26% Citigroup $83 → $91 Maintains Buy 02/15/2024 20.53% UBS $94 → $96 Maintains Buy 02/15/2024 6.72% RBC Capital → $85 Reiterates Outperform → Outperform 02/15/2024 19.28% JP Morgan $84 → $95 Maintains Overweight 02/15/2024 15.51% BMO Capital $82 → $92 Maintains Outperform 02/15/2024 13% Truist Securities $77 → $90 Reiterates Buy → Buy 02/15/2024 13% Needham → $90 Reiterates Buy → Buy 02/15/2024 13% Keybanc $79 → $90 Maintains Overweight 02/08/2024 7.98% Barclays $63 → $86 Maintains Overweight 02/08/2024 -4.58% JMP Securities $75 → $76 Maintains Market Outperform 02/08/2024 2.96% BMO Capital $69 → $82 Maintains Outperform 02/08/2024 4.21% Citigroup $75 → $83 Maintains Buy 02/08/2024 6.72% RBC Capital $65 → $85 Maintains Outperform 02/08/2024 4.21% Mizuho $77 → $83 Maintains Buy 02/08/2024 6.72% Susquehanna $60 → $85

JMP Securities analyst Andrew Boone maintains Uber Technologies, Inc. (NYSE:UBER) with a Market Outperform and raises the price target from $76 to $85.

Uber Technologies is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Earlier Wednesday, the ride-sharing company announced its first-ever stock-buyback program, as its board authorized the repurchase of up to $7 billion of common stock. Uber’s Financial Chief Prashanth Mahendra-Rajah called the move “a vote of confidence in the company’s strong financial momentum.” Dow Jones & Co. owns Factiva.