What's Going On With Uber Stock?
Portfolio Pulse from Henry Khederian
Uber Technologies Inc (NYSE:UBER) shares are trading at $68.45, down 0.8% Friday afternoon, but have surged nearly 24% over the past week following better-than-expected second-quarter financial results. Uber reported a 16% year-over-year revenue increase to $10.7 billion and a GAAP EPS of 47 cents, surpassing analyst expectations. Mobility and Delivery segments showed significant growth, while Freight revenue remained flat.
August 09, 2024 | 5:07 pm
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Uber Technologies Inc reported strong Q2 2024 results, with revenue increasing by 16% YoY to $10.7 billion and GAAP EPS of 47 cents, surpassing analyst expectations. Mobility and Delivery segments showed significant growth, leading to a 24% surge in stock price over the past week.
The strong financial performance, particularly the revenue and EPS surpassing expectations, has led to a significant increase in Uber's stock price. The growth in Mobility and Delivery segments further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100