Uber's Remarkable Turnaround From Market Tumbles To Record Highs - Exceeding Earnings Expectations
Portfolio Pulse from Zaheer Anwari
Uber Technologies Inc reported impressive fourth-quarter results, with earnings per share of $0.29, surpassing the estimated $0.17. Gross bookings surged to $37.6 billion, a 22% increase year over year, and monthly active platform consumers reached 150 million, up 15% from the previous year. Despite a 33% decline in 2022, Uber's stock rose by 142% in 2023 and an additional 12% in 2024, surpassing its previous record high. However, the stock opened down 4% after the earnings release.
February 08, 2024 | 2:48 pm
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Uber Technologies Inc reported outstanding Q4 results, with significant growth in earnings, bookings, and user base. Despite a strong performance, the stock opened down 4% after the earnings announcement.
Uber's impressive Q4 performance and continued growth trajectory in 2024, despite a temporary post-earnings dip, suggest strong investor confidence and potential for further stock appreciation. The initial drop may be a short-term reaction, with the overall positive earnings and growth indicators likely to bolster the stock's performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100