According to Fiscal.ai data, Wall Street expects the ride-hailing company to post earnings of $0.62 per share on revenue of $12.47 billion for the quarter ending June 30.
Uber stock has gained nearly 2% over the past week ahead of its quarterly earnings report before the bell.
According to Fiscal.ai data, Wall Street expects the ride-hailing company to post earnings of $0.62 per share on revenue of $12.47 billion for the quarter ending June 30. Uber has blown past estimates in the previous four quarters.
According to Benchmark analysts, stability in Mobility and Delivery trends at Uber would be largely positive for the company’s second-quarter earnings. At the same time, changes in foreign currency will have a minimal negative impact.
For the second quarter (Q2), Uber projected gross bookings between $45.75 billion and $47.25 billion, representing 16% to 20% year-over-year growth on a constant currency basis.
Retail sentiment on Stocktwits about Uber was in the ‘bullish’ territory at the time of writing, while retail chatter was ‘high.’
“Uncertainty and some fear for tomorrow [earnings report] E/R. It’s going to be a beat with strong guidance,” one user wrote.
While investor focus has remained centered on margins amid brutal price competition with rivals, including Lyft, autonomous vehicles are likely to hog the limelight.
“It becomes clearer every day that $TSLA [Tesla] will not be the only car company that masters unsupervised autonomy,” Gary Black, the portfolio manager at Future Fund LLC, said in a post on X. He compared the situation to Tesla’s electric vehicle business, with several companies catching up to the world’s most valuable car company.
Over the past few weeks, Uber has signed several agreements to ramp up its robotaxi operations amid heightened competition from companies like Tesla and Alphabet’s Waymo.
It signed an agreement with electric vehicle maker Lucid to add 20,000 vehicles on the Uber platform as robotaxis. The cars will be equipped with Nuro, Inc.’s Level 4 autonomy system, called Nuro Driver, and are expected to launch later next year in a major U.S. city.
Separately, Uber announced a multi-year strategic partnership to deploy thousands of Baidu’s Apollo Go autonomous vehicles on the Uber platform across multiple markets outside the U.S. and mainland China.
Uber stock has risen nearly 44% this year.
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