Uber's second-quarter earnings outperformed expectations with improved profitability and growth in gross bookings

From Morningstar: 2024-08-07 07:34:00

Uber’s fair value estimate remains at $80 per share despite tough macro environment. Second-quarter earnings outperformed expectations, with gross bookings up 19% year over year at $40 billion. Net revenue increased 16% year over year, with strong growth in mobility business. Despite concerns about AV competitors, Uber is seen as a long-term winner. Adjusted EBITDA improved to 3.9% of gross bookings. Morningstar Rating: 4 stars, Economic Moat Rating: Narrow, Uncertainty Rating: Very High.



Read more at Morningstar: Uber Earnings: Improved Profitability as Bookings Grow