Ride sharing and on demand delivery service Uber (NYSE: UBER) will be reporting results tomorrow morning. Here's what you need to know.
Last quarter Uber reported revenues of $8.82 billion, up 28.7% year on year, beating analyst revenue expectations by 1.41%. It was a strong quarter for the company, with strong top-line growth and solid growth in its user base. The company reported 130 million users, up 13% 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 15.7% year on year to $9.34 billion, slowing down from the 105% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 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. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.28%.
With Uber being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for consumer internet stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 9.23% over the last month. Uber is up 13% during the same time, and is heading into the earnings with analysts' price target of $53.29, compared to share price of $48.7.
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The author has no position in any of the stocks mentioned.