Uber revenue misses estimates despite easing price war, shares tumble [Reuters]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: Reuters
Uber revenue misses estimates despite easing price war, shares tumble - Reuters 3 Min Read (Reuters) - Uber Technologies Inc ( UBER.N ) reported lower-than-expected revenue for the second quarter on Thursday, sending shares down 12% as the largest U.S. ride-hailing company failed to show expected benefits of easing price competition. Uber’s net loss also widened to $5.24 billion, or $4.72 per share, in the quarter ended June 30 from $878 million, or $2.01 per share, a year earlier, reflecting $3.9 billion of stock-based compensation expenses related to its IPO earlier this year. Chief Executive Officer Dara Khosrowshahi said in a press call the competitive environment is starting to rationalize and it has been “progressively improving” since the first quarter. Smaller rival Lyft Inc ( LYFT.O ) said on Wednesday pricing had become “more rational”, meaning the company should spend less on promotions and incentives to win market share. It raised its revenue outlook on Wednesday. Lyft
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UBER
News
- NYC congestion pricing plan passes final vote, will bring $15 tolls for some drivers [CBS News]CBS News
- Congestion pricing toll plan gets key approval of NYC transit board, setting stage for June rollout [Yahoo! Finance]Yahoo! Finance
- Uber Technologies, Inc. (NYSE: UBER) had its price target raised by analysts at Truist Financial Co. from $90.00 to $94.00. They now have a "buy" rating on the stock.MarketBeat
- NYC congestion pricing plan passes final vote, will bring $15 tolls for some drivers [CBS News]CBS News
- New York City congestion pricing, first in the nation, is approved at $15 and up for vehicles [MSNBC.com]MSNBC.com
UBER
Earnings
- 2/7/24 - Beat
UBER
Sec Filings
- 3/25/24 - Form ARS
- 3/25/24 - Form DEF
- 3/25/24 - Form DEFA14A
- UBER's page on the SEC website