Uber Earnings: What To Look For From UBER

Petr Huřťák /
2024/02/06 2:02 am EST

Ride sharing and on demand delivery service Uber (NYSE: UBER) will be reporting earnings tomorrow before market open. Here's what you need to know.

Last quarter Uber reported revenues of $9.29 billion, up 11.4% year on year, missing analyst expectations by 2.6%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and slow revenue growth. The company reported 142 million users, up 14.5% year on year.

Is Uber buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Uber's revenue to grow 13.4% year on year to $9.76 billion, slowing down from the 49% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.39 per share.

Uber Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Uber's peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Netflix delivered top-line growth of 12.5% year on year, beating analyst estimates by 1.4% and Meta reported revenues up 24.7% year on year, exceeding estimates by 2.4%. Netflix traded up 4.4% on the results, and Meta was up 20.3%.

Read our full analysis of Netflix's results here and Meta's results here.

Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks down on average 1.7% over the last month. Uber is up 17.7% during the same time, and is heading into the earnings with with analyst price target of $68.8, compared to share price of $69.5.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.

The author has no position in any of the stocks mentioned.