Record Ridership Gets Uber To Second Consecutive Quarterly Profit
Portfolio Pulse from Upwallstreet
Uber Technologies Inc (UBER) reported its second consecutive operating profit in Q3, with $9.3 billion in revenue, an 11% YoY increase. The company's mobility segment brought in $5.07 billion, food delivery contributed $2.93 billion, and the freight business added $1.28 billion. However, Q3 results were below LSEG’s estimate. Uber's rival, DoorDash Inc (DASH), also reported its best quarter since its IPO, with $2.2 billion in Q3 revenue, a YoY increase of 24%.
November 07, 2023 | 4:20 pm
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POSITIVE IMPACT
DoorDash reported its best quarter since its IPO, with $2.2 billion in Q3 revenue, a YoY increase of 24%.
DoorDash's best quarter since its IPO and a 24% YoY increase in revenue indicates a positive trend for the company, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Uber reported its second consecutive operating profit in Q3, with $9.3 billion in revenue, an 11% YoY increase. However, Q3 results were below LSEG’s estimate.
Uber's second consecutive operating profit and 11% YoY increase in revenue indicates a positive trend for the company. However, the fact that Q3 results were below LSEG’s estimate might temper investor enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100