Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessUber Reports Earnings on Thursday: What to Watch

Uber Reports Earnings on Thursday: What to Watch

Add to Favorite
Added to Favorite

 

Uber Technologies, Inc. (UBER)   NYSE – reports Q2 2020 Earnings today.

Options traders are betting that  Uber  shares will rise when the Uber reports earnings Thursday afternoon.   The stock is up more than 13%  based on positive sentiment.Longtime growth and profitability look promising.

Looks like an earnings beat on the topside. Loss per share is expected to be at .66 cents per share versus last year at .60 cents per share.

Gross bookings are  now increasing as the went down due to Covid-19.Uber Eats will book $996 million in revenue for the June quarter , exceeding Rides Revenue for the first time ever.

Uber is buying a taxi software company  Autocab to expand in the UK. The software connects users with local taxi operators. This will help Uber reach another 170 regions in the UK. Uber still grapples with its appeal against a ruling that drivers should be classified as workers and not freelancers.

Uber acquired meal delivery service Postmates for $2.65 billion. The deal should close in Q1 2021.

The transaction is valued at approximately $2.65 billion, on a fully diluted basis, subject to a net debt adjustment

  • Postmates stockholders will receive 100% stock consideration
  • Uber equity issued in the transaction will be valued at $31.45, based on Uber’s 10-day VWAP as of June 29, 2020
  • Uber has committed to provide bridge financing to Postmates during the process of obtaining regulatory approvals. Source Uber Investor Relations

Continued growth at scale in 2019 with Gross Bookings and Adjusted Net Revenue growing $15B and $2.6B YoY, respectively. Source: Uber Investor Relations

In other news, California labor commissioner sues Uber and Lyft for alleged wage theft by misclassifying drivers as independent contractors.  The state of Massachusetts sued Uber and Lyft over driver classification back in July.

Former Google executive Anthony Levandowski sentenced to 18 months for stealing self-driving car secrets and selling then to Uber. Levandowski is now  Uber for $4.1 billion.

Dara Khosrowshahi is the CEO of Uber, where he manages the company’s fast-growing business in 63 countries around the world and leads a global team of more than 22,000 employees.Dara was previously CEO of Expedia, which he grew into one of the world’s largest online travel companies. A seasoned executive with a background in both engineering and finance, Dara oversaw a number of acquisitions that bolstered Expedia’s offerings and aggressively invested in mobile, which now accounts for more than half of Expedia’s traffic.

Image Source Photo by  Morning Brew  on  Unsplash

 

Subscribe to get Latest News Updates

Latest News

You may like more
more

Former President George Bush congratulates President-elect Donald Trump on victory, CWEB reports

Former President George W. Bush released a statement congratulating...

Arch Capital Group’s Market Outlook and Financial Performance

Michael Zaremski from Capital One Financial set a price...

Jazz Pharmaceuticals’ Financial and Operational Highlights

Earnings per Share (EPS) of $3.40, missing the estimated...