Listicle
- Uber forecasts gross bookings for Q3 2024 to be between $40.25 billion and $41.75 billion.
- Expected Q3 adjusted EBITDA is projected between $1.58 billion and $1.68 billion.
- Q2 2024 gross bookings reached $39.95 billion, a 19% increase from last year.
- Mobility bookings for Q2 were $20.55 billion, a 23% increase year-over-year.
- Delivery bookings for Q2 were $18.13 billion, a 16% increase year-over-year.
- Freight bookings matched the estimate at $1.27 billion.
- Total Q2 revenue was $10.70 billion, marking a 16% year-over-year increase.
- Q2 adjusted EBITDA was $1.57 billion, a significant 71% increase year-over-year.
- Q2 earnings per share (EPS) were 47 cents, up from 18 cents year-over-year.
- Uber reported 2.77 billion trips in Q2, a 21% increase year-over-year.
- Net income for Q2 was $1.02 billion, compared to $394 million last year.
- Monthly active platform consumers for Q2 were 156 million, a 14% increase year-over-year.
- Uber repurchased $325 million of its common stock under the February 2024 authorization.
- A stronger US dollar is expected to be a $400 million headwind to Q3 gross bookings.
- Uber grew AV trips by six times year-over-year, through partnerships across Mobility, Delivery, and Freight.
- The company has taken steps to partially offset stock-based compensation and reduce share count consistently.
- Uber’s advertising business performed well in Q2, reaching a revenue run rate of over $1 billion.
Uber Technologies on Smartkarma
Analysts at Baptista Research, on the independent research platform Smartkarma, have provided bullish insights into Uber Technologies. In their report “Uber Technologies: Partnership Strategy and Advancements in Autonomous Vehicles! – Major Drivers,” Baptista Research highlights Uber’s positive growth in 2024 with a 21% year-on-year increase in rides and a 15% expansion in user base. The company achieved record adjusted EBITDA of $1.4 billion and generated $4.2 billion in free cash flow. The analysts delve into the challenges and opportunities posed by the shift towards autonomous vehicles and evaluate factors influencing Uber’s future price, conducting a comprehensive DCF valuation with scenario analysis.
In another report, “Uber Technologies: A Tale Of Increasing User Engagement and Frequency! – Major Drivers,” Baptista Research continues their bullish sentiment on Uber. The analysts commend Uber’s strong Q4 performance with 24% year-on-year trip growth and exceeding expectations in adjusted EBITDA and operating income. Highlighting Uber’s ability to generate profitable growth at scale, Baptista Research underscores the company’s positive trajectory. Investors can gain insights into Uber’s increasing user engagement and frequency through Baptista Research‘s thorough analysis and valuation methodologies.
A look at Uber Technologies Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Uber Technologies Inc, a leading provider of ride-hailing services, may have a promising long-term outlook based on the Smartkarma Smart Scores analysis. With a strong score of 4 in Growth, Uber is positioned well for future expansion and development in the ride-hailing industry. This indicates the company has significant potential for increasing its market presence and profitability over time.
While Uber scores lower in Value and Dividend at 2 and 1 respectively, its scores of 3 in both Resilience and Momentum suggest that the company has the ability to withstand challenges and maintain a steady pace of growth in the market. Overall, based on the Smart Scores, Uber Technologies appears to have a solid foundation for sustained growth and success in the future despite some areas for improvement.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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