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Uber Earnings: UBER Stock Gains 8% After Beating Q4 Estimates

Uber (NYSE:UBER) earnings for the ride-sharing service’s fourth quarter of 2019 have UBER stock heading higher after markets closed Thursday. That’s due to its diluted losses-per share of -64 cents, which is better than Wall Street’s estimate of -67 cents per share. Revenue of $4.07 billion also comes in above analysts’ estimates of $4.06 billion.

Uber Earnings: UBER Stock Gains 8% After Beating Q4 Estimates

Source: NYCStock / Shutterstock.com

Now for a closer look at the most recent Uber earnings report.

  • Diluted losses per share are 67.68% better than the -$1.98 from the same time last year.
  • Revenue for the quarter is up 37.07% compared to $2.97 billion in the fourth quarter of 2018.
  • Operating losses of -$971 million aren’t as wide as the -$1.05 billion from the same period of the year prior.
  • The Uber earnings report also has net loss coming in at -$1.09 billion.
  • That’s 22.61% worse than the -$889 million reported in the fourth quarter of the previous year.

Dara Khosrowshahi, Chief Executive Officer of Uber, says this about the UBER stock earnings.

“2019 was a transformational year for Uber and I’m gratified by our progress, steadily delivering against the commitments we’ve made to our shareholders on our path to profitability. We recognize that the era of growth at all costs is over. In a world where investors increasingly demand not just growth, but profitable growth, we are well-positioned to win through continuous innovation, excellent execution, and the unrivaled scale of our global platform.”

The Uber 2020 earnings report doesn’t make mention of 2020 guidance. Even so, we know what Wall Street expects. It’s looking for losses per share of -$2.32 on revenue of $18.51 billion.

UBER stock was up 8.33% after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/uber-earnings-send-stock-higher/.

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