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UBER has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed in the remaining one, the average beat being 533.76%.
Given this backdrop, let’s see how things have shaped up for Uber this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $9.75 billion, indicating 13.2% growth from the year-ago levels. The top line is likely to have benefited from strength in its Delivery business and improvement in the Mobility business.
Our estimate for Delivery revenues is pegged at $3.1billion, indicating 3.5% growth from the year-ago reported figure. The uptick is likely to have resulted from an increase in online order volumes.
Our estimate for Mobility revenues is pegged at $5.2 billion, indicating 26% growth from the year-ago reported figure.
The Zacks Consensus Estimate for Freight revenues is pegged at $1.4 billion, indicating a 9.3% decline from the year-ago reported figure. Lower revenue per load and volume and the challenging freight market cycle might have weighed on the segment.
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 quarter under review. The Zacks Consensus Estimate for earnings has remained flat in the past 90 days.
What Our Model Says
Our proven model predicts 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, which is absolutely 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 +28.29% and a Zacks Rank #3.
Highlights of Q3
Uber reported third-quarter 2023 earnings of 10 cents per share, which missed the Zacks Consensus Estimate of 13 cents. In third-quarter 2022, Uber reported a loss of 61 cents per share. Total revenues of $9,292 million missed the Zacks Consensus Estimate of $9,466.4 million. The top line jumped 11.4% year over year.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Computer and Technology sector that investors may consider, as our model shows that these, too, have the right combination of elements to beat on earnings this season.
Airbnb, Inc. (ABNB - Free Report) has an Earnings ESP of +4.73% and a Zacks Rank #3. ABNB will release results on Feb 13.
The Zacks Consensus Estimate for ABNB’s fourth-quarter 2023 earnings has been revised upward by 7.8% in the past 90 days. ABNB delivered a trailing four-quarter earnings surprise of 49.99%, on average.
The Zacks Consensus Estimate for BL’s fourth-quarter 2023 earnings has been revised upward by 31% in the past 90 days. BL delivered a trailing four-quarter earnings surprise of 3.41%, on average.
Image: Bigstock
UBER Gears Up to Report Q4 Earnings: What's in the Cards?
Uber Technologies (UBER - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 7, before market open.
UBER has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed in the remaining one, the average beat being 533.76%.
Given this backdrop, let’s see how things have shaped up for Uber this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $9.75 billion, indicating 13.2% growth from the year-ago levels. The top line is likely to have benefited from strength in its Delivery business and improvement in the Mobility business.
Uber Technologies, Inc. Price and EPS Surprise
Uber Technologies, Inc. price-eps-surprise | Uber Technologies, Inc. Quote
Our estimate for Delivery revenues is pegged at $3.1billion, indicating 3.5% growth from the year-ago reported figure. The uptick is likely to have resulted from an increase in online order volumes.
Our estimate for Mobility revenues is pegged at $5.2 billion, indicating 26% growth from the year-ago reported figure.
The Zacks Consensus Estimate for Freight revenues is pegged at $1.4 billion, indicating a 9.3% decline from the year-ago reported figure. Lower revenue per load and volume and the challenging freight market cycle might have weighed on the segment.
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 quarter under review. The Zacks Consensus Estimate for earnings has remained flat in the past 90 days.
What Our Model Says
Our proven model predicts 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, which is absolutely 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 +28.29% and a Zacks Rank #3.
Highlights of Q3
Uber reported third-quarter 2023 earnings of 10 cents per share, which missed the Zacks Consensus Estimate of 13 cents. In third-quarter 2022, Uber reported a loss of 61 cents per share. Total revenues of $9,292 million missed the Zacks Consensus Estimate of $9,466.4 million. The top line jumped 11.4% year over year.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Computer and Technology sector that investors may consider, as our model shows that these, too, have the right combination of elements to beat on earnings this season.
Airbnb, Inc. (ABNB - Free Report) has an Earnings ESP of +4.73% and a Zacks Rank #3. ABNB will release results on Feb 13.
The Zacks Consensus Estimate for ABNB’s fourth-quarter 2023 earnings has been revised upward by 7.8% in the past 90 days. ABNB delivered a trailing four-quarter earnings surprise of 49.99%, on average.
BlackLine, Inc. (BL - Free Report) has an Earnings ESP of +2.62% and a Zacks Rank #1. BL will release results on Feb 13. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BL’s fourth-quarter 2023 earnings has been revised upward by 31% in the past 90 days. BL delivered a trailing four-quarter earnings surprise of 3.41%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.