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UBER has a disappointing earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in only two of the preceding four quarters (two miss), the average negative surprise being 108.2%.
Given this backdrop, let’s see how things are likely to have shaped up for Uber this earnings season.
We expect Uber’s delivery business to have performed impressively in second-quarter 2023. Management expects gross bookings in the $33-$34 billion band. Online order volumes are estimated to have surged. Our estimate for revenues from the Delivery segment is currently pegged at $2,882.5 million, implying an uptick of 7.2% from second-quarter 2022 actuals.
Moreover, with economies reopening and more people traveling to work and other places, ride-hailing services are forecast to have seen buoyant demand, in turn, benefiting Uber’s mobility business. Our prediction for revenues from the Mobility segment is currently pegged at $4,392 million, suggesting an increase of 23.6% from second-quarter 2022 levels.
On the flip side, high sales and marketing expenses, and costs associated with paying incentives to drivers due to changes in the business model in some countries are likely to have affected Uber’s bottom line in the June quarter.
What Our Model Says
Our proven model does not predict an earnings beat for Uber this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Uber has an Earnings ESP of -188.89% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks that investors may consider from the Computer and Technology sector, as our model shows that these have the right combination of elements to beat around this earnings season.
Airbnb is benefiting from a strong demand in the travel industry. ABNB’s earnings outshined the Zacks Consensus Estimate in each of the past four quarters. The average beat is 54.9%.
CACI International Inc (CACI - Free Report) has an Earnings ESP of +2.36% and currently carries a Zacks Rank #2. It is slated to release fourth-quarter fiscal 2023 results on Aug 9.
CACI has been benefiting from new business wins and organic expansions. It has a large pipeline of new projects and continues to win more deals at regular intervals. CACI’s earnings outpaced the Zacks Consensus Estimate in three of the past four quarters and missed once, the average beat being 1.81%.
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UBER Set to Report Q2 Earnings: Here's What You Should Know
Uber Technologies (UBER - Free Report) is scheduled to report second-quarter 2023 results on Aug 1, before market open.
UBER has a disappointing earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in only two of the preceding four quarters (two miss), the average negative surprise being 108.2%.
Given this backdrop, let’s see how things are likely to have shaped up for Uber this earnings season.
Uber Technologies, Inc. Price and EPS Surprise
Uber Technologies, Inc. price-eps-surprise | Uber Technologies, Inc. Quote
We expect Uber’s delivery business to have performed impressively in second-quarter 2023. Management expects gross bookings in the $33-$34 billion band. Online order volumes are estimated to have surged. Our estimate for revenues from the Delivery segment is currently pegged at $2,882.5 million, implying an uptick of 7.2% from second-quarter 2022 actuals.
Moreover, with economies reopening and more people traveling to work and other places, ride-hailing services are forecast to have seen buoyant demand, in turn, benefiting Uber’s mobility business. Our prediction for revenues from the Mobility segment is currently pegged at $4,392 million, suggesting an increase of 23.6% from second-quarter 2022 levels.
On the flip side, high sales and marketing expenses, and costs associated with paying incentives to drivers due to changes in the business model in some countries are likely to have affected Uber’s bottom line in the June quarter.
What Our Model Says
Our proven model does not predict an earnings beat for Uber this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Uber has an Earnings ESP of -188.89% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks that investors may consider from the Computer and Technology sector, as our model shows that these have the right combination of elements to beat around this earnings season.
Airbnb, Inc. (ABNB - Free Report) has an Earnings ESP of +1.70% and presently carries a Zacks Rank #2. It will release second-quarter 2023 results on Aug 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Airbnb is benefiting from a strong demand in the travel industry. ABNB’s earnings outshined the Zacks Consensus Estimate in each of the past four quarters. The average beat is 54.9%.
CACI International Inc (CACI - Free Report) has an Earnings ESP of +2.36% and currently carries a Zacks Rank #2. It is slated to release fourth-quarter fiscal 2023 results on Aug 9.
CACI has been benefiting from new business wins and organic expansions. It has a large pipeline of new projects and continues to win more deals at regular intervals. CACI’s earnings outpaced the Zacks Consensus Estimate in three of the past four quarters and missed once, the average beat being 1.81%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.