Uber’s record $13.5B revenue and 31% EBITDA growth signal a dominant quarter
Uber (UBER) has reported a strong third quarter, with double-digit growth in rides and gross bookings. The company also posted a GAAP profit of $1.20 per share on record revenue of $13.5B. Looking ahead, Uber anticipates a 31% increase in adjusted EBITDA for the current quarter.
Analysts have taken note of Uber's progress. Andrew Boone awaits more clarity on the company's autonomous vehicle transition, while Bernie McTernan models a ~15% bookings growth and ~25% adjusted EBITDA growth over the next three years. Mike Zaccardi sees the recent UBER stock pullback as a buying opportunity, citing its healthy free cash flow and industry-leading partnerships.
Uber's growth is not limited to its ride-hailing services. Daniel Kurnos highlighted a 3% quarter-over-quarter improvement in the FX-neutral growth rate to 21% for Uber's gross bookings. Justin Patterson sees grocery and autonomy as strategic pillars for Uber's long-term growth. Currently, Uber is focusing on software solutions for mobility services, having paused its autonomous vehicle development projects in 2020.
Uber's third quarter results demonstrate the company's resilience and growth potential. With analysts predicting continued growth and strategic investments in areas like grocery and autonomy, Uber's future looks promising. The company expects adjusted EBITDA to increase by 31% in the current quarter, further solidifying its position in the market.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Over 1.7M in Baden-Württemberg at Poverty Risk, Emmendingen's Housing Crisis Urgent
- Life Expectancy Soars, But Youth Suicide and Substance Abuse Pose Concern
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
