We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
UBER Incurs Wider-Than-Expected Loss in Q4, Revenues Miss
Read MoreHide Full Article
Uber Technologies, Inc. (UBER - Free Report) incurred a loss of 54 cents per share in the fourth quarter of 2020, wider than the Zacks Consensus Estimate of a loss of 53 cents. However, the loss narrowed by 15.6% year over year. Meanwhile, total revenues of $3,165 million missed the Zacks Consensus Estimate of $3,576.1 million. The top line dropped 22.2% year over year due to weakness in the ride-hailing segment, thanks to coronavirus keeping most people homebound.
Following an organizational change in the third quarter of 2019, Uber, carrying a Zacks Rank #3 (Hold), started reporting through five segments, namely, Mobility (formerly Rides), Delivery (formerly Eats), Freight, Advanced Technologies Group (“ATG”) and Other Technology Programs, and All Other (formerly Other Bets). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the fourth quarter, majority (46.5%) of the company’s revenues came from Mobility. Revenues from this segment dropped 52% year over year to $1,471 million. Revenues from the Delivery segment, which is experiencing a boom with online order volumes from homebound customers surging, skyrocketed more than 200% year over year to $1,356 million. Meanwhile, Freight revenues climbed 43% to $313 million. Rest of the revenues came from the ATG and Other Technology Programs segment.
Uber Technologies, Inc. Price, Consensus and EPS Surprise
Total revenues declined 26% year over year to $1,814 million in the United States and Canada. While revenues fell 43% to $302 million in Latin America, it increased 25% to $664 million in Europe, the Middle East and Africa. Moreover, the same soared 70% to $385 million in the Asia-Pacific region. Monthly active platform consumers declined 16% to 93 million.
Gross bookings from Mobility declined 50% to $6,789 million. Meanwhile, gross bookings from Delivery augmented more than 100% to $10,050 million. Gross bookings from Freight also climbed 43% to $313 million. Total gross bookings slipped 5% to $17,152 million.
Cost of revenue (excluding depreciation and amortization) decreased year over year. Total costs and expenses declined 14.3% year over year to $4,042 million with sales and marketing expenses falling 17% and research and development expenses decreasing 20.5%. On another positive note, adjusted EBITDA loss narrowed by 26% year over year to $454 million in the reported quarter.
Uber exited the fourth quarter with cash and cash equivalents of $5,647 million compared with $10,873 million at the end of 2019. Long-term debt, net of current portion at the end of the quarter, was $7,560 million compared with $5,707 million at 2019-end.
The company continues to be hopeful about its ability to achieve adjusted EBITDA profits in 2021.
AMETEK’s fourth-quarter 2020 adjusted earnings of $1.08 per share beat the Zacks Consensus Estimate by 4.8%. Net sales of $1.19 billion missed the Zacks Consensus Estimate of $1.2 billion. The stock carries a Zacks Rank #3.
T-Mobile, carrying a Zacks Rank #4 (Sell), reported adjusted earnings of $1.03 per share in the fourth quarter, beating the Zacks Consensus Estimate by 52 cents. Quarterly revenues of $20,341 million surpassed the consensus estimate of $19,966 million.
Carrier Global, carrying a Zacks Rank #3, reported fourth-quarter 2020 adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate by 16.2%. Net sales of $4.6 billion beat the consensus mark by 0.3%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
UBER Incurs Wider-Than-Expected Loss in Q4, Revenues Miss
Uber Technologies, Inc. (UBER - Free Report) incurred a loss of 54 cents per share in the fourth quarter of 2020, wider than the Zacks Consensus Estimate of a loss of 53 cents. However, the loss narrowed by 15.6% year over year. Meanwhile, total revenues of $3,165 million missed the Zacks Consensus Estimate of $3,576.1 million. The top line dropped 22.2% year over year due to weakness in the ride-hailing segment, thanks to coronavirus keeping most people homebound.
Following an organizational change in the third quarter of 2019, Uber, carrying a Zacks Rank #3 (Hold), started reporting through five segments, namely, Mobility (formerly Rides), Delivery (formerly Eats), Freight, Advanced Technologies Group (“ATG”) and Other Technology Programs, and All Other (formerly Other Bets). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the fourth quarter, majority (46.5%) of the company’s revenues came from Mobility. Revenues from this segment dropped 52% year over year to $1,471 million. Revenues from the Delivery segment, which is experiencing a boom with online order volumes from homebound customers surging, skyrocketed more than 200% year over year to $1,356 million. Meanwhile, Freight revenues climbed 43% to $313 million. Rest of the revenues came from the ATG and Other Technology Programs segment.
Uber Technologies, Inc. Price, Consensus and EPS Surprise
Uber Technologies, Inc. price-consensus-eps-surprise-chart | Uber Technologies, Inc. Quote
Total revenues declined 26% year over year to $1,814 million in the United States and Canada. While revenues fell 43% to $302 million in Latin America, it increased 25% to $664 million in Europe, the Middle East and Africa. Moreover, the same soared 70% to $385 million in the Asia-Pacific region. Monthly active platform consumers declined 16% to 93 million.
Gross bookings from Mobility declined 50% to $6,789 million. Meanwhile, gross bookings from Delivery augmented more than 100% to $10,050 million. Gross bookings from Freight also climbed 43% to $313 million. Total gross bookings slipped 5% to $17,152 million.
Cost of revenue (excluding depreciation and amortization) decreased year over year. Total costs and expenses declined 14.3% year over year to $4,042 million with sales and marketing expenses falling 17% and research and development expenses decreasing 20.5%. On another positive note, adjusted EBITDA loss narrowed by 26% year over year to $454 million in the reported quarter.
Uber exited the fourth quarter with cash and cash equivalents of $5,647 million compared with $10,873 million at the end of 2019. Long-term debt, net of current portion at the end of the quarter, was $7,560 million compared with $5,707 million at 2019-end.
The company continues to be hopeful about its ability to achieve adjusted EBITDA profits in 2021.
Performance of Other Computer & Technology Stocks
Within the broader Computer and Technology sector, AMETEK, Inc. (AME - Free Report) , T-Mobile US, Inc. (TMUS - Free Report) and Carrier Global Corporation (CARR - Free Report) recently reported earnings numbers.
AMETEK’s fourth-quarter 2020 adjusted earnings of $1.08 per share beat the Zacks Consensus Estimate by 4.8%. Net sales of $1.19 billion missed the Zacks Consensus Estimate of $1.2 billion. The stock carries a Zacks Rank #3.
T-Mobile, carrying a Zacks Rank #4 (Sell), reported adjusted earnings of $1.03 per share in the fourth quarter, beating the Zacks Consensus Estimate by 52 cents. Quarterly revenues of $20,341 million surpassed the consensus estimate of $19,966 million.
Carrier Global, carrying a Zacks Rank #3, reported fourth-quarter 2020 adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate by 16.2%. Net sales of $4.6 billion beat the consensus mark by 0.3%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>