Uber (UBER.US) stock rose over 10.0% in premarket after the world's largest ride-sharing company reported better than expected Q2 revenue figures, positive quarterly cash flow for the first time ever and solid financial outlook for the current quarter.
-
Loss per share of $1.33, while analysts polled by Investing.com anticipated EPS of $-0.2687.
-
Revenue rose by 105% to $8.07 billion and beat Refinitiv analysts’ estimates of $7.39 billion,
-
Net loss of $2.6 billion, of which $1.7 billion was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato.
-
Free cash flow rose to $382 million, well above market projections of $263.2 million as the number of trips jumped above pre-pandemic levels, boosted by the reopening of offices and a surge in travel demand.
-
The company reported adjusted EBITDA of $364 million,which also easily topped Wall Street expectations in the $240 million to $270 million range.
-
Gross bookings jumped 33.0% to $29.1 billion YoY and in line with market estimates.
-
Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency.
-
Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency.
-
Monthly active platform consumers increased by 21.0% to 122 million YoY.
-
The number of drivers and delivery agents on its platform rose 31% to an all-time high of almost 5 million, despite concerns that high petrol prices were deterring them from signing up with the company.
-
“Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia,” Uber said in a release.
-
For the current quarter, the company forecasts gross bookings in the region of $29 billion to $30 billion and adjusted EBITDA of $440 million to $470 million.
Uber (UBER.US) stock rose sharply before the opening bell and broke above the downward trendline. If current sentiment prevails, an upward move may accelerate towards resistance at $32.00, which is marked with upper limit of the 1:1 structure and 61.8% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
