Uber (UBER) reports Q1 loss, gross bookings miss expectations

Uber Inc. (UBER) PT Lowered to $80 at RBC Capital

May 9, 2024 6:39 AM EDT

RBC Capital analyst Brad Erickson lowered the price target on Uber Inc. (NYSE: UBER) to $80.00 (from $85.00) while maintaining a Outperform rating.

The analyst comments "UBER's Q1 was a bit messy relative to expectations. EBITDA results/guidance were fine but bookings softness... More

Uber Inc. (UBER) PT Lowered to $87 at BofA Securities

May 9, 2024 6:08 AM EDT

BofA Securities analyst Justin Post lowered the price target on Uber Inc. (NYSE: UBER) to $87.00 (from $91.00) while maintaining a Buy rating.

The analyst comments "Reported 1Q rev/EBITDA of $10.13bn/$1.38bn, above Street at $10.11bn/$1.32bn, while bookings at $37.7bn was 1%... More

Uber Inc. (UBER) PT Lowered to $100 at Jefferies

May 8, 2024 4:09 PM EDT

Jefferies analyst John Colantuoni lowered the price target on Uber Inc. (NYSE: UBER) to $100.00 (from $103.00) while maintaining a Buy rating.

The analyst comments "UBER delivered another EBITDA beat/raise and broadly matched elevated buy-side expectations. We would attribute today's weakness to a... More

Uber (UBER) Misses Q1 EPS by 54c, Revenue Beats, Offers Guidance

May 8, 2024 6:57 AM EDT

Uber (NYSE: UBER) reported Q1 EPS of ($0.32), $0.54 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $10.13 billion versus the consensus estimate of $10.09 billion.

Outlook for Q2 2024:

For Q2 2024, we anticipate:

Gross Bookings of $38.75 billion to... More

Uber shares tumble as weaker ride-share demand hurts Q2 forecast

May 8, 2024 6:56 AM EDT

By Yuvraj Malik

(Reuters) -Uber posted a surprise quarterly loss and forecast gross bookings below Wall Street expectations, sending its shares down 9% and putting the ride-share and food delivery company on course to shed more than $10 billion in market value.

Uber's disappointing forecast was in sharp contrast to an upbeat guidance late on Tuesday from smaller rival Lyft, which lifted its shares up 8%.

Lyft posted strong quarterly results, leaning on an industry-wide pickup in demand, while Uber's results signaled growth slowing from 2023 in which it posted first annual profit by dominating the U.S.... More

Futures tread water, more earnings ahead, Toyota reports - what's moving markets

May 8, 2024 4:14 AM EDT

Investing.com -- U.S. stock futures hug the flatline as markets assess the potential of Federal Reserve interest rate cuts later this year. More quarterly earnings reports are due on Wednesday, including returns from Uber Technologies (NYSE: UBER) and Arm Holdings (NASDAQ: ARM). Toyota 's annual profit nearly doubles thanks to solid demand for... More

DoorDash stock drops as Uber, Instacart announce strategic partnership

May 7, 2024 8:28 AM EDT

Shares of DoorDash (NASDAQ: DASH) dropped over 3% premarket Tuesday after Instacart (NASDAQ: CART) and Uber (NYSE: UBER) announced a strategic partnership.

The partnership will bring Uber Eats restaurant delivery to... More

DoorDash (DASH) Declines After Uber (UBER) and Instacart (CART) Pact on Restaurant Deliveries

May 7, 2024 8:05 AM EDT

DoorDash (NASDAQ: DASH) Declines After Uber (NYSE: UBER) and Instacart (NASDAQ: CART) Pact on Restaurant Deliveries

DASH -5%

Earlier:

Instacart (Nasdaq:... More

Uber (UBER) Eats to Power Restaurant Delivery on Instacart (CART)

May 7, 2024 8:01 AM EDT

Instacart (Nasdaq: CART) and Uber Technologies, Inc. (NYSE: UBER) today announced a strategic partnership to bring Uber Eats restaurant delivery to Instacart customers. In the coming weeks, Instacart customers nationwide will be able to use the Instacart app to order from... More

Uber (UBER) And Instacart (CART) Partner On Restaurant Deliveries

May 7, 2024 8:00 AM EDT

(Updated - May 7, 2024 8:02 AM EDT)

Instacart (Nasdaq: CART) and Uber Technologies, Inc. (NYSE: UBER) today announced a strategic partnership to bring Uber Eats restaurant delivery to Instacart customers. In the coming weeks, Instacart customers nationwide will be able to use the Instacart app to order from hundreds of thousands of restaurants, powered by Uber Eats.

The experience will be featured through a new "Restaurants" tab in the Instacart app, providing a user-friendly interface that allows consumers to choose from a selection of nearby restaurants, browse... More