Ride sharing and on demand delivery service Uber (NYSE:UBER) will be reporting earnings tomorrow after the bell. Here's what to expect.
Last quarter Uber reported revenues of $4.84 billion, up 72.2% year on year, beating analyst revenue expectations by 9.87%. It was an incredible quarter for the company, with an exceptional revenue growth and growing number of users. Monthly Active Platform Consumers were up 31 million year over year to 109 million.
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 118% year on year to $4.85 billion, improving on the 23.8% year-over-year decline in revenue the company had recorded in the same quarter last year. Loss is expected to come in at -$0.30 per share.
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.
Looking at Uber's peers in the consumer internet segment, Lyft is reporting today after market close and social networks have already reported Q4 earnings results. Snap (NYSE:SNAP) delivered top-line growth of 42.4% year on year, beating analyst estimates by 8.05% and Meta (NASDAQ:FB) reported revenues up 19.9% year on year, exceeding estimates by 0.68%. Snap traded up 58.7% on results, Meta was down 26.3%. Read our full analysis of Snap's results here and Meta's results here.
The technology sell-off has been putting pressure on stocks since November and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 11.1% over the last month. Uber is down 11.5% during the same time, and is heading into the earnings with analyst price target of $66, compared to share price of $37.83.
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.
The author has no position in any of the stocks mentioned.