Uber Puts Aside Revenue Miss With A Long-Awaited Milestone And Rosy Guidance
Portfolio Pulse from Upwallstreet
Uber Technologies (NYSE:UBER) reported Q2 revenue of $9.23 billion, missing the expected $9.33 billion. However, the company achieved two financial milestones: free cash flow exceeding $1 billion and a GAAP operating profit for the first time. Uber's revenue rose 14% YoY, with a net income of $394 million. The company's CFO, Nelson Chai, is set to leave in January 2024. Uber also provided a positive Q3 guidance, exceeding StreetAccount’s estimates.
August 04, 2023 | 9:13 am
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Despite missing Q2 revenue expectations, Uber achieved significant financial milestones and provided a positive Q3 guidance. The departure of CFO Nelson Chai in 2024 may introduce uncertainty.
Uber's achievement of significant financial milestones and positive Q3 guidance are likely to boost investor confidence, potentially driving the stock price up in the short term. However, the announced departure of the CFO in 2024 may introduce some uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100