Uber Applied sciences UBER reported a lack of 32 cents per share within the first quarter of 2024. The Zacks Consensus Estimate was pegged at 21 cents. Within the year-ago quarter, UBER incurred a lack of 8 cents.
Whole revenues of $10,131 million beat the Zacks Consensus Estimate of $10,076 million. The highest line jumped 15% 12 months over 12 months.
Within the reported quarter, the bulk (55.6%) of the corporate’s revenues got here from Mobility. Revenues from this section jumped 30% 12 months over 12 months to $5,633 million. Revenues from the Supply section elevated 4% 12 months over 12 months to $3,214 million. Freight revenues fell to $1,284 million, down 8% from the year-ago interval, as a consequence of decrease income per load and quantity and the difficult freight market cycle.
Adjusted EBITDA within the first quarter surged 82% to $1,382 million.
Uber Applied sciences, Inc. Value, Consensus and EPS Shock
Uber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Applied sciences, Inc. Quote
Gross bookings from Mobility improved 25% to $18,670 million. Gross bookings from Supply augmented 18% to $17,699 million. Gross bookings from Freight got here in at $1,282 million within the first quarter, down 8% from the year-ago quarter. Whole gross bookings ascended 20% to $37,651 million.
Uber exited the primary quarter with money and money equivalents of $5,019 million in contrast with $4,680 million on the prior-quarter finish. Lengthy-term debt, internet of the present portion on the finish of the reported quarter, was $9,457 million in contrast with $9,459 million on the prior-quarter finish.
Working money circulation got here in at $1,416 million within the reported quarter. The free money circulation was $1,359 million.
Q2 Steerage
For the second quarter of 2024, Uber expects gross bookings within the vary of $38.75 billion-$40.25 billion. The adjusted EBITDA is estimated to be between $$1.45 billion and $1.53 billion, which displays year-over-year progress of 58-67%.
UBER presently sports activities a Zacks Rank #1 (Sturdy Purchase). You’ll be able to see the complete list of today’s Zacks #1 Rank stocks here.
Let’s check out the first-quarter performances of different corporations from the identical industry.
Lyft Inc. (LYFT)reported first-quarter 2024 earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 9 cents and improved 12 months over 12 months. Revenues of $1,277.2 million additionally outpaced the Zacks Consensus Estimate of $1,170.1 million and improved 12 months over 12 months.
Alphabet’s (GOOGL) first-quarter 2024 earnings of $1.89 per share beat the Zacks Consensus Estimate by 26.8%. The determine rose 61.5% 12 months over 12 months. Revenues of $80.54 billion elevated 15% 12 months over 12 months (16% at fixed foreign money).
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