Uber CEO Explains How Uber Eats Accounting Impacted Q3 Earnings, Says Business In 'Great Shape' Heading Into Q4
Portfolio Pulse from Adam Eckert
Uber Technologies Inc's Q3 financial results showed strength in bookings despite initial shakiness. The company reported Q3 revenue of $9.29 billion, beating the consensus estimate of $8.99 billion, and marking an 11% YoY increase. Uber's revenue would have been 8% higher if not for a reclassification of Uber Eats spending. Gross bookings grew 21% YoY, with mobility bookings up 31% and delivery bookings up 18%. Earnings per share were 10 cents, missing analyst estimates of 11 cents but improving from a loss of 61 cents in the prior year's quarter. Goldman Sachs noted positive operating trends continuing into Q4.
November 07, 2023 | 5:04 pm
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Uber's Q3 results beat estimates, showing strength in bookings and revenue growth. However, earnings per share missed analyst estimates. Positive trends are expected to continue into Q4.
Uber's Q3 results exceeded expectations, showing strong growth in bookings and revenue. This positive performance, along with the company's diverse platform and competitive advantage, could boost investor confidence and potentially drive the stock price up in the short term. However, the missed earnings per share estimate might temper this positive impact slightly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100