Uber Reports Growth In Trips And Users, Yet Misses Earnings Forecasts In Q3 Financial Reveal
Portfolio Pulse from Anusuya Lahiri
Uber Technologies, Inc reported Q3 FY23 revenue growth of 11% YoY to $9.29 billion, missing the consensus of $9.52 billion. Revenue from Mobility grew 33% YoY, Delivery was up 6%, and Freight fell 27% YoY. Gross Bookings grew 21% YoY to $35.3 billion. Uber expects Q4 gross bookings of $36.5 billion - $37.5 billion and an adjusted EBITDA of $1.18 billion - $1.24 billion. UBER shares traded lower by 0.79% at $47.76 premarket.
November 07, 2023 | 1:12 pm
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NEGATIVE IMPACT
Uber's Q3 FY23 revenue missed consensus, with a significant slowdown in Freight, but growth in Mobility and Delivery. Shares traded lower premarket.
Uber's Q3 revenue missed the consensus, indicating a weaker than expected performance. The significant slowdown in the Freight segment could be a concern for investors, leading to the premarket drop in share price. However, the growth in Mobility and Delivery segments could offset this in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100