Uber (NYSE:UBER) stock is rising higher on Thursday alongside the release of the ride-sharing company’s fourth-quarter 2021 earnings report.
The good news for holders of UBER stock today includes adjusted earnings per share of 44 cents. That’s a positive switch from the company’s adjusted losses per share of 54 cents from the same time last year. It’s also a massive beat compared to the -26 cents per share Wall Street was expecting.
The Uber earnings report also has revenue for the period coming in at $5.78 billion. That’s an 83% jump from the company’s revenue of $3.17 billion from the fourth quarter of 2020. It’s also well above the $5.36 billion that analysts were expecting in the quarter.
The most recent earnings report also includes its outlook for the first quarter of 2022. It’s expecting gross bookings to range from $25 billion to $26 billion with Adjusted EBITDA between $100 million and $130 million.
Dara Khosrowshahi, CEO of Uber, said the following in the earnings report sending the company’s stock higher today
‘In Q4, more consumers were active on our platform than ever before, Delivery reached Adjusted EBITDA profitability, and Mobility Gross Bookings approached pre-pandemic levels. While the Omicron variant began to impact our business in late December, Mobility is already starting to bounce back, with Gross Bookings up 25% month-on-month in the most recent week.”
Uber isn’t the only ride-sharing company that reported strong earnings this week. Lyft (NASDAQ:LYFT) stock also got a boost on Wednesday following the release of its most recent earnings report.
UBER stock is up 3.8% as of Thursday morning.
There’s more stock market news that traders need to know about below!
We’ve got all the most recent stock news that traders will want to know about for Thursday! Among that is what’s going on with Gores Guggenheim (NASDAQ:GGPI) stock today, January Consumer Price Index (CPI) data investors need to know about, as well as details on Zynga (NASDAQ:ZNGA) NFT plans. You can get all of that info from the links below!
Mor Stock Market News for Thursday
- GGPI Stock Jumps Into Spotlight as Polestar Gears Up for Major Super Bowl Debut
- January CPI Data: What Does It Mean for Inflation Fears?
- 8 Things for ZNGA Stock Investors to Know About Zynga’s NFT and Web 3.0 Plans
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.