![]() Over the last 60 and 30 days, earnings estimates for the coming quarter have been raised by 12 and one out of 15 analysts, respectively. Revenues from the segment increased 23% year over year in the first quarter of 2023, while gross bookings from the unit augmented 8%. Uber’s Delivery business is witnessing a boom with online order volumes surging since the pandemic. In the United States, Uber’s position is at a nearly six-year high. New rideshare products like pre-booking, shared rides, car rentals and car-sharing are also contributing to Uber’s growth in the industry.Īmid higher demand, number of active drivers have been growing, erasing worries about the dearth of drivers’ signing up. A rise in car ownership costs is also leading many consumers to opt for cab rides. Inflation appears to be leading more drivers to join Uber's platform.Īlthough higher gas and vehicle prices can take a bite into drivers' profits, rising grocery and other living costs are prompting more people to drive for Uber to earn some extra bucks. Mobility revenues jumped 72% year over year to $4,330 million in first-quarter 2023 as ride volumes continued to rebound, while gross bookings from the unit improved 40%. ![]() ![]() Uber is benefiting from the ebbing pandemic and a rebound in demand for travel-related services. The stock has a Zacks Rank #2 (Buy) and an upbeat VGM (Value-Growth-Momentum) score of B.Ĭontinued recovery in the Mobility business is encouraging. The ride-hailing and food delivery giant Uber Technologies ( UBER Quick Quote UBER - Free Report) is up 79.6% this year and has gained 15.5% past month.
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